The acquisition represents an expansion of Ringier Africa’s portfolio beyond publishing and digital marketing in Nigeria and Silvertree’s first ecommerce investment in the country. It sees the two companies invest significantly in Nigeria’s fastgrowing multi-billion dollar ecommerce sector as part of their partnership in the Ringier Africa Deals Group.
DealDey, the online deals ecommerce platform, was launched in 2011 by serial entrepreneur Simdul Shagaya together with Investment AB Kinnevik. With over one million users, 15,000 active merchants and 20,000 verified listed businesses, DealDey is the largest online deals business in the region. In addition to its core platform, 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 say: “The DealDey team is excited about joining forces with the newlyformed Ringier Africa Deals Group. It offers great opportunities as DealDey 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 ecommerce expertise towards supporting the sustainable growth of the group.”
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 eCommerce for Ringier Africa and General Manager of Ringier Kenya, will be working with the management of DealDey and the group’s other companies.
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