Kevin Tucker, original founder of PriceCheck, the online price comparison website, has re-acquired the company.
Kevin initially sold the company to Naspers in 2010 – 4 years after he founded it. He is buying back the company with support from investment firm, Silvertree Internet Holdings via its subsidiary, ClicknCompare – another price comparison website.
Other details about the deal were not disclosed.
“It is an exciting prospect to retake the reins of a company I started almost a decade ago. 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,” Kevin Tucker says in a media release from Silvertree.
PriceCheck CEO before the acquisition, Andre de Wet, will step down as the new owners begin management reshuffle.
PriceCheck is one of the largest price comparison service in Africa with over 25 millio listings from Zando, Konga and Jumia.