Adevinta sells Gumtree SA

July 22, 2022
Share this Post: 

Adevinta has sold Gumtree South Africa to Durban-based Impresa Capital, two years after purchasing it.

Adevinta had purchased eBay's online classified business (including Gumtree operations in Australia, Mexico, South Africa and UK) in a deal worth a reported $9.2bn in July 2020, but has now sold the digital platform—one of the biggest online classifieds websites in South Africa—for an undisclosed fee two years later.

Adevinta sold the platform so it can focus its attentions on five core markets.

Rolv Erik Ryssdal, outgoing CEO of Adevinta, said:

“As part of Adevinta’s strategic review process, we continue to focus our investment capacity on five European Core Markets (France, Germany, Italy, Netherlands and Spain), and we have made every effort to find the ideal buyer, not only to continue to invest in Gumtree SA, but to ensure the continuity of the operations for the employees involved.

"Adevinta will continue to support Gumtree SA and its employees throughout this transition, to ensure continuity for the business and its users.  We wish them every success in the future."

Impresa Capital is led by tech entrepreneur brothers Sean and Donovan Bergsma. On the purchase, CEO Sean said:

“We are delighted to bring Gumtree SA back to its home roots in South Africa, and to expand on the Gumtree platform with new products and services that will benefit Gumtree customers, both consumers and businesses alike."

July 22, 2022
Harvey is an experienced property journalist and copywriter. He has written about the property industry since 2015, starting at The Property Franchise Group in the UK, before moving to Spain to work for Spotahome. He has blogged for the private rented sector, ghostwritten for UK property experts and written case studies for franchise owners around the UK. Harvey joined Online Marketplaces as a News Editor in 2022.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Zillow And Opendoor
Zillow and Opendoor Further Extend Their Partnership into 3 New Markets

US giant Zillow and Opendoor have expanded their home sales partnership into three new markets. The new markets are Houston,...

Read More
Ke Holdings Decoration
Chinese Leader KE Holdings Sees Net Losses Widen to $203m in 2022 As It Goes "from high-speed to high quality growth"

Leading Chinese real estate brokerage and portal company KE Holdings (aka Beike) has released a report on its performance for...

Read More
Property Finder Boardroom
PropertyFinder hires Frode Nordseth as VP of Product

Dubai-based marketplace Property Finder has hired Frode Nordseth as its new VP of Product. He announced his new role in...

Read More
Buyrentkenya Nairobi Skyline
"The ceiling for innovation is just infinite at this point" - Interview with BuyRentKenya CEO, Lizzie Costabir

Like the previous two portals we've spoken to in our Africa series, BuyRentKenya has been in the business for 10...

Read More

Editor's Pick