Africa’s Largest Online Classifieds Group Receives $20 Million In Funding From Australia’s Largest Jobs Site, SEEK
When two of Africa’s leading players in the classified ads space teamed up last year to build what has now become the largest online classifieds entity in the continent, it was only time before it got attention from global investors and international media.
Today, SEEK, the largest jobs site in Australia announced that it has invested US$20 million for a 25% stake in One Africa Media, co-founded by Carey Eaton, owner of Cheki Africa Media and Justin Clarke, owner of Private Property Holdings.
“This investment is in early stage, market leading businesses that position One Africa Media to benefit from both the economic and structural growth in the region,” said Jason Lenga, Managing Director of SEEK International in a statement.
One Africa Media owns, operates and invests in a portfolio of leading online marketplaces across Jobs, Cars, Real Estate and Travel, including Jobberman (the leading job’s site in Nigeria), Brighter Monday (jobs in Kenya), Cheki (the leading cars classified sites in Kenya and Nigeria), Private Property (the leading property listing service in South Africa and Nigeria) and Safari Now (travel in South Africa).
The group plans to use the fund to further grow its portfolio and will continue to re-invest to capture the large market opportunities across Africa, as the continent is seen as one of the largest online classifieds market opportunities in the world.