Shopping Acquires Buynownow

Shopping Internet Services is helping small online retail start-ups to expand their reach. End Quote

(1888PressRelease) December 20, 2013 - Shopping Internet Services Mauritius Shopp!ng) has today announced that it has acquired buynownow.com BuyNowNow), one of Nigeria's most successful online malls. The acquisition occurs through Shopp!ng's Nigeria subsidiary Shopping Internet Services Limited.

The acquisition creates Nigeria's largest and most diverse online mall by bringing together two pioneers in the ecommerce space, and will enhance service delivery to BuyNowNow merchants whilst bolstering Shopp!ng's local fulfillment infrastructure. "BuyNowNow is fanatical about satisfying consumers and helping merchants succeed, and we love that," said Wole Lawani, Project Manager at Shopp!ng(https://shoppi.ng). "We've got a huge amount to offer small and medium size merchants, so this kind of merger makes all the sense in the world."

Shopp!ng(https://shoppi.ng) is the leading online mall in an ecommerce market which is currently valued at about $300 million and is growing at over 200% annually, one of the fastest growth rates globally. Growth is primarily being driven by an emerging middle class that is expected to swell by 5 million individuals over the next 4 years, according to Renaissance Capital.

"We've always believed that the online mall model, with some tweaks, is the ideal ecommerce model for the Nigerian market," said Mayowa Owolabi, CEO and co-founder of BuyNowNow. "The resources that Shopp!ng will make available will allow the business to fulfill its potential and give our merchants and consumers a more rounded experience; it's a no-brainer."

Terms of the agreement remain private, but the all-cash acquisition shall take place through Shopp!ng's Nigerian subsidiary whilst key personnel in BuyNowNow will migrate to roles in Shopp!ng(https://shoppi.ng). Existing BuyNowNow merchants will be provided with a free migration service to the Shopp!ng platform.

Contact:
klawani ( @ ) shopping; +2348096312622

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