Kevin Tucker, who founded PriceCheck in 2006 and sold it to Naspers in 2010, is reacquiring the online price comparison platform in partnership with Silvertree Investment Holdings. The acquisition is being made through Silvertree’s subsidiary company ClicknCompare and terms of the deal, which was announced last week, were not disclosed.
Tucker assumes the role of Chief Executive Officer from Andreas de Wet, who is leaving the company after 5 years at the helm.
“It is an exciting prospect to retake the reins of a company I started almost a decade ago;” said Tucker in a statement announcing the deal. “Naspers, through investment and strategic partnerships, has built PriceCheck to be a leading price and product comparison platform. My challenge now is to consolidate the considerable headway they have made over the last five years and build an infrastructure to service the many millions more Africans that will be venturing online for consumer goods, predominantly via mobile, in the coming years”.
PriceCheck is now Africa’s largest price comparison service, with over five million products listed from retailers including Zando, Konga and Jumia. Initially launched in South Africa, PriceCheck also expanded into Nigeria, the continent’s largest economy, in 2013. The platform now sees 25 million unique annual visitors across its two platforms, and has recorded y-o-y growth of 40% in South Africa and 600% in Nigeria, as more and more African shoppers look online for the best deals.