Bidorbuy buys stake in SA's Jump.co.za
Bidorbuy.com has bought a 22 percent stake in Jump Internet Technologies, the operator of the South African online shopping comparison site, Jump Shopping. Bidorbuy.com Inc is the parent company of the South African online auction website Bidorbuy.co.za. Albert Bredenhann, managing director of Jump Internet Technologies, was excited about the deal and the company’s future. "Although we strongly believed in our brand since the initial launch of the search engine in 2006, we feel that the investment from bidorbuy will not only help us grow our business, but will further aid in boosting e-commerce in South Africa, giving online merchants the recognition they deserve." Andy Higgins, managing director of bidorbuy.co.za said he believes the synergy between Bidorbuy.co.za and Jump.co.za has resulted in a natural progression towards this relationship. Jump Shopping provides almost 600 South African merchants with an online platform to display their products so that online consumers can search for and compare prices. Bredenhann said they will continue their drive to increase the visibility of online stores in South Africa. A previous effort to do this Jump Shopping’s launching of the South African e-Commerce Awards, the winners of which were announced recently. One of South Africa’s larger websites, Bidorbuy.co.za claims 180nbsp;000 registered users and over 9 000 sellers, generating a monthly turnover of more than R5 million. Financial details of the transaction have not been disclosed, but it has been announced that bidorbuy has an option to acquire a majority stake of Jump Shopping in the future.