Swiss e-commerce company Ringier has acquired DealDey for an undisclosed amount, the deal was announced today. Dealdey has grown considerably since its inception in March 2011, It raised about 1 million dollars in funding in 2011 from Kinnevik a Swedish investment company; Kinnevik funded it with another 5 million dollars series B financing in 2015.
The African division of the company, Ringier Africa Deals Group which sealed the deal is a joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings Ltd. DealDey is a key player in Nigeria’s e-commerce industry ranking 41st position among Nigerian websites and 3rd position among Nigerian e-commerce websites lagging behind Jumia and Konga according to Alexa.com.
The shopping website provides daily discounts on goods and services and is self branded as Africa’s largest online deals platform with over 1 million users, 15,000 active merchants and 20,000 verified businesses listed.
Ringier Africa’s GM Leonard Stiegler said the acquisition is part of the company’s expanding strategy to invest fully in four areas in Africa namely: classifieds, content, digital marketing, and e-commerce and that his company can position dealdey to compete favourably with Konga and Jumia in the near future.
In his words “The country is an important entry market for e-commerce and there are significant players,” he said. “We really believe the deals model that relies more on local merchants and offers both goods and services can differentiate itself from the Amazon models that Jumia and Konga are running.” I hope this brings about healthy completion and in turn better goods, services and price for Nigerian buyers.
Dealdey was founded by Konga founder and technopreneur Sim Shagaya in 2011.