AG and South African Silvertree Internet Holdings (Pty) Ltd have acquired Nigeria’s biggest deals platform DealDey
for an undisclosed amount.
The details of the partnership are sketchy but Silvertree and Ringier must be in a 50-50 deal as they plan to invest in more companies across Africa under the Ringier Africa Deals Group umbrella.
DealDey was launched in 2011 by serial entrepreneur Simdul Shagaya together with Investment AB Kinnevik. With over 1 million users, 15,000 active merchants and 20,000 verified listed businesses, DealDey today also comprises of the couponing platform Promohub and discovery platform Lyf , both forming part of the acquisition.
DealDey CoCEOs Kehinde Oriola & Etop Ikpe will also see slight changes. Kehinde Oriola will continue as the CEO of DealDey as part of RADG, while Etop Ikpe will be moving on to new ventures. We have contacted acting CEO of RADG, Damien Bonnabel, current Head of eCommerce for Ringier Africa and General Manager of Ringier Kenya for more details.
Ringier Africa Deals Group (RADG) now runs Rupu in Kenya, Tisu out of Ringer Ghana. This deal gives Silvertree access to Rupu and Tisu and now Dealdey. The partners aim to further accelerating the growth of these exciting businesses and Africa’s ecommerce industry.