Nigerian company, DealDey has shut down operations following one month of inactivity on its website and social media pages. According to a source close to the matter, the company shut down around the second week in December 2018. This is also about the time when users last saw deals on its site and social media pages.

Launched in March 2011, DealDey features a daily deal on the best things to do, see, eat, and buy in Nigeria. It equally supports local businesses and in return, they support consumers with good savings.

Speculations of DealDey’s shutdown

Since operations shut down in December, their offices have remained closed. In the past few weeks, users have been asking questions. Many are complaining about unanswered calls and emails, and speculating on a possible shut down.

 Nigerian Company DealDey Shuts-down Operations

Konga founder Sim Shagaya, established the company in 2011. In 2015, it was one of Nigeria’s biggest e-commerce platforms, attracting a $5 million investment from Kinnevik. Things, however, took a different turn shortly after, forcing the company to lay off 60% of its workforce.

Also worth mentioning is the fact that, Ringier Africa Deals Group (RADG) acquired DealDey in 2016 for a mere $5 million.  The owners of the company reportedly initially offered to sell for $75 million.

When the acquisition was announced, DealDey Co­-CEOs Kehinde Oriola & Etop Ikpe said: “The DealDey team is excited about joining forces with the newly­ formed Ringier Africa Deals Group. It offers great opportunities as the company brings a wealth of experience in technology, merchant management and consumer behaviour in Nigeria and we will be leveraging the Ringier Africa portfolio in marketing, classifieds and media as well as Silvertree’s e-commerce expertise towards supporting the sustainable growth of the group.”

While tech enthusiasts in Nigeria are still speculating the exit of DealDey, it’s customers remain in shock.

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