One Africa Media (OAM) acquires 100% stake in Jobberman in merger roll-up

Jobberman is one of the largest job portals in Nigeria. It was co-founded by Opeyemi Awoyemi, Ayodeji Adewunmi, and Olalekan Olude in August 2009. The co-founders launched Jobberman when they were students at Nigeria’s Obafemi Awolowo University. Jobberman is based in Lagos, Nigeria. Jobberman.com has been described by Forbes as “West Africa’s most popular job search engine and aggregator”.

One Africa Media (OAM) operates Africa’s largest portfolio of online marketplaces focused on jobs, cars, property, and travel. Serving markets across Africa with over 400 million potential users, One Africa Media operates in the world’s fastest growing economies and internet markets, connecting buyers and sellers, employers and job seekers. Some of the companies in OAM’s portfolio include Jobberman, Cheki, and Private Property.

One Africa Media just completed a $10 million fund raising round from Australia-based SEEK. This is the second round of funds raised by OAM from SEEK. This latest round increases SEEK’s stake in OAM by 6% to 31%. SEEK also gets a second representative on OAM’s board.

As a result of OAM’s fund raise, OAM acquired 100% of Nigeria-based Jobberman and Kenya-based BrighterMonday. This is OAM’s second round of investments in Jobberman and BrighterMonday. OAM’s purchase of Jobberman includes Jobberman’s Ghana subsidiary.

The Jobberman acquisition was executed as a merger roll-up, in which previous Jobberman shareholders became OAM shareholders in exchange for OAM’s additional stake in Jobberman.

OAM aims to expand its marketplaces across Africa and deepen its presence in markets such as Nigeria, Kenya, South Africa, Ghana, Uganda, Tanzania, and Zimbabwe.

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