Jiji the most popular online marketplace acquires Cars45

In the modern era diversification plays an integral role in the success of business. Companies keep on evolving and tend to expand their business in different domains to leverage maximum profit. Jiji, a Nigeria based online company has acquired Cars45 to expand its business in the sale and resale of cars.

 

Jiji is headquartered in Lagos, Nigeria and it was founded in the year 2014. The website is an online marketplace that features products of different categories. like Fashion, Lifestyle, Healthcare , Mobile phones and  Home Furniture. Purchasing property or even groceries is just a click away through this website. 

 

Jiji unifies the unanimous buyers and sellers. It features classifieds from different sellers and providers buyers with a trusted platform where they can purchase goods without hassle. The sellers can post their advertisements for free on the website.

 

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It covers all the major states of Nigeria namely Abia, Bauchi, Delta and Edo. Jiji’s total funding amount is $24 million. It previously acquired OLX South Africa on April 4, 2019. The second acquisition of Cars45 is also made with the aim to establish the company as a premium online marketplace for second hand cars.

 

Jiji is funded by Digital Spring Ventures, Allrise Capital,  Knuru Capital. The acquisition looks like a win- win situation for both companies. Cars45 is Nigeria’s most popular automobile trading platform. It is used for the sale and purchase of second hand cars. It buys, sells, and places the proper pricing tag on the car after quality checks.

 

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The company places a free advertisement on the website and then interested buyers contact the seller. The entire process is online hence its quick. Once the buyer approaches the seller and the car deal is finalized the amount gets credited in the seller's bank account within forty five minutes. The super smooth process goes mostly online and hence it is flexible. 

 

Following the acquisition Cars45 will merge its business operations with Jiji. The company’s headquarters will be shifted to Ghana. 

 

As reported by TechCrunch  Anton Volyansky CEO and Co- founder of Jiji said, “We will integrate this into one company because this acquisition has a lot of benefits for both. It’s a very common practice when marketplace and transactional business models work together as one project.”