If you are looking towards one of the fastest growing Groupon look-alikes, then Dealdey will surely take the cake. Dealdey is a Nigerian company whose business is providing group-buying discount deals. Dealdey was launched in March 2011 and has succeeded in changing the scope of the e-commerce industry in Nigeria, a country which has traditionally been quite slow to catch-up with its African counterparts in this area. Dealdey primarily caters to the population in Lagos and Abuja, providing discounts on a range of products and services in restaurants, fast-food joints and retail shops.
Dealdey has been able to rack up a subscriber-base of over 100,000 members on its platform in a space of 11 months. Dealdey.com has indeed done a first; being able to launch a concept which on face value would look to be a hard-sell to the Nigerian public, but which has turned out to be a phenomenal success. The company’ success has been boosted by the funding it received from its parent company e-Motion Advertising to the tune of $1m.
How does Dealdey work? Users first register on the website to get an account. In order to start receiving deals and be able to pay for them, users can make deposits to four selected banks, or can pay on Dealdey.com using their ATM/debit cards as well as through the use of mobile payment platforms. You would then receive your coupon by email or SMS. The user can then present this coupon to the retailer and claim the item paid for.
Dealdey’s revenue comes from the payments it gets from companies to have their products listed on Dealday. According to its CEO, Dealdey is presently adding 500 new members a day and sells about 200 restaurant deals a day. With the concept of discount online purchases catching on fast in Nigeria, Dealdey looks positioned to increase its market share, especially as the mobile payment reforms introduced by the Central Bank of Nigeria kick in fully in June 2012.
Dealdey.com is the brainchild of Samdul Shagaya, an entrepreneur from the middle-belt state of Plateau in Nigeria. With over 11 years experience in New Media and Investment Banking, his working experience includes stints at MicroStrategy, Lucent Technologies and Real Networks.
He has served as the Africa lead for Google Inc, and as the West African Principal for Rand Merchant Bank. A graduate of George Washington University and Dartmouth College, Shagaya also holds an MBA from Harvard Business School.
Presently, he is working on opening a central logistics office in GRA Ikeja, Lagos State. This centre will serve as a centralized pick-up point and also a point from where non-perishables can be stored for onward delivery to the doorsteps of customers.