SEEK – the world’s largest online employment marketplace by market capitalization – recently provided $10m in additional funding for an additional 6 per cent equity ownership in One Africa Media and a second representative on the OAM Board. SEEK now owns 30 per cent of OAM which is valued at $167m. Companies in the OAM group include Jobberman, Cheki, Private Property, and Brighter Monday. Others are Buyrentkenya, SafariNow and StayNow.
Following this development, Co-founders Ayodeji Adewunmi, Opeyemi Awoyemi and Olalekan Olude have become Shareholders and Directors in the group. While the trio still act in their current roles as CEO and Senior Vice Presidents respectively, they will now operate at the group level bringing their experience and expertise to bear in other OAM-owned businesses through a shares roll-up deal.
Describing the development as great news, Ayodeji Adewunmi said, “We started Jobberman with the vision of being the No. 1 destination for jobs in Africa; a mission we continue to work toward. With the additional funding provided by OAM, and the new group designations, we are better poised to achieving this goal and also growing other sister companies of Jobberman in the OAM group. We can now go on to conquer Africa and keep a firm grip on Nigeria which is Africa’s most populous nation and largest economy.”
One Africa Media (OAM) owns, operates and invests in a portfolio of leading online marketplaces across jobs, cars, real estate and travel. Its businesses which operate in Nigeria, Kenya, South Africa, Ghana, Uganda, Tanzania and Zimbabwe offer exposure to markets with rapidly growing internet and mobile penetration rates.