Started off on Twitter – interesting stuff going down on the e-commerce turf. So what’s up? We heard that Dealfish has been sold, and further findings show that OLX - a company that provides online classifieds in many international versions, including those for India, Spain, Portugal, Mexico, and South America – just bought over the Dealfish’s stakes from MIH Internet Africa.
OLX going for such a deal does make sense if the business motive is expanding into the African market. There’s a twist to the tale though. Interesting thing is that MIH, OLX and Dealfish are all under the Napser Group. So you can consider this as a transfer of control from one subsidiary company to another, only that the conditions become more precarious, as Napser doesn’t have full ownership of OLX as they do with MIH. Let me break it down for you:
- Napser owns 100% of MIH
- Napser owns 84% of OLX
- Napser owns 100% of Dealfish via MIH
- OLX buys 100% of MIH’s stake in DealFish
- Napser looses grip on Dealfish as it doesn’t control 16% of OLX
And before I forget, all of these could just be a rumor – but it is very possible in a business environment. We are still investigating though. However, Dealfish is still very much around, so my apologies to the ‘little guys in e-commerce’. Big boy is still in town.