Ringier Africa Deals Group, a newly founded joint venture by Swiss #Ringier Africa AG and South African Silvertree Internet Holdings, has acquired one of Nigerian online shopping platform, DealDey. The acquisition represents an expansion of Ringier Africa’s portfolio beyond publishing and digital marketing in Nigeria and Silvertree’s first e-commerce investment in the country.
#DealDey was launched in 2011 by serial entrepreneur Simdul Shagaya together with Investment AB Kinnevik. DealDey has over 1 million users, 15,000 active merchants and 20,000 verified listed businesses. It also comprises of the couponing platform Promohub and discovery platform Lyf.
Kehinde Oriola will continue as the CEO of DealDey as part of RADG, while Etop Ikpe will be moving on to new ventures. As acting CEO of RADG, Damien Bonnabel, current Head of e-Commerce for Ringier Africa and General Manager of Ringier Kenya, will be working with the management of DealDey and the group’s other companies.
Ringier Africa Deals Group (RADG), the purchasing holding company, has been created by a carve-out of Kenyan online deals business Rupu from Ringier Kenya, and of Ghanaian online deals platform Tisu from Ringer Ghana.