Nigeria Stories

BREAKING NEWS!! Dealdey Shuts Down Operations

Following one month of inactivity on its website and social media pages, it is confirmed that Nigerian daily deals platform DealDey has shut down operations.

According to a source close to the matter, the company shut down around the second week in December 2018, about the time when users last saw deals on its site and social media pages.

Since operations shut down in December, the DealDey offices have been closed down and workers have been let go. In the past few weeks, users have been asking questions, complaining about unanswered calls and emails, and speculating on a possible shut down.

DEAL DEY SHORT HISTORY

DealDey was established in 2011 by Konga founder Sim Shagaya. By 2015, it was one of the Nigeria’s biggest e Commerce platforms, attracting a $5 million investment from Kinnevik.

Things however took a different turn shortly after, leading the company to lay off 60% of its workforce.

In 2016, it was acquired by Ringier Africa Deals Group (RADG), a newly-founded joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd, for a mere $5 million — the owners of the company reportedly initially offered to sell for $75 million.

Source:- Techpoint

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