Nigeria’s Dealdey finally shut down


Nigeria’s one and only daily deals website, Dealdey has finally closed its operations.

While the company did not provide information nor issue a formal statement as to why it closed down, there were obvious signs that its business model could no longer push withstand the market.

It could be recalled that Ringier, owners of had acquired in 2016.

According to people with the knowledge of the matter, they will be using the opportunity to enter the eCommerce market. In 2011, DealDey was launched in Nigeria andĀ perhaps mimicking the, the largest deals site in the United States and Europe; DealDey has since then started its own online shopping services.

DealDey faced series of financial challenges that led to a mass layoffs of hundreds of its staff early last year. Sim Shagaya, @SimShagaya, the current Chairman of Konga, started DealDey in 2011, Sim left to start Konga in 2012.

Ringier started operations in Nigeria with as its flagship brand focusing on news and entertainment content targeted at youths. Silvertree has expertise in eCommerce.

The latest development is a major negative for the Nigerian eCommerce industry.

It could be recalled that Payporte, has also closed operations while Jumia and Konga are also on maintenance mode. While Jumia’s heavy-pocket investors are looking at selling off their 22% stake in the business, Konga had been sold to Zinox Group in early 2017.