The acquisition of the messaging platform Sendchamp has been verified as a “mid-six-figure” acqui-hire. This deal kicks off the self-reinvention of the 16-year-old acquirer, Whogohost.
According to individuals with direct data of the deal, Whogohost’s acquisition of the shopper messaging platform Sendchamp was a “mid-six-figure” USD deal. TechCabal understands that the deal was a mixture of cash and equity, however most of Sendchamp’s early investors—from whom it raised practically $400,000—selected to transform their equity holdings in Sendchamp to Whogohost shares.
“Whogohost is ultimately copying [GoDaddy’s] playbook,” stated Opeyemi Awoyemi, Whogohost’s CEO. The American web area registrar and internet hosting firm has advanced right into a companion for rising companies. Between 2012 and 2022, GoDaddy purchased 24 firms that cater to small and medium-sized enterprises (SMEs).
Whogohost remains to be in the early phases of its technique, with Sendchamp being solely its third acquisition after shopping for The Expert Host and iHost Africa in 2016. The addition of Sendchamp will assist Whogohost broaden the vary of companies it gives to a consumer base that features Guaranty Trust Bank, Seamfix, and Cool FM.
One day after buying Sendchamp, Whogohost started providing entry to Bodsquare, Sendchamp’s buyer messaging utility, to its 100,000 prospects at a reduction. Additionally, SendChamp’s co-founders, Goodness Kayode and Damilola Olotu, have been named Chief Product Officer and Chief Technology Officer, respectively, at Whogohost, alongside an unspecified variety of engineers. Charles Dairo, who has constructed a number of functions for companies instructed TechCabal, “The acquisition of the Sendchamp team is a very notable aspect of the deal, as their technical expertise is key to Whogohost becoming the GoDaddy of Africa.”
The good promoting alternative for Sendchamp
According to Goodness Kayode, Sendchamp’s cofounder, the corporate had turned down earlier acquisition gives and solely offered to Whogohost as a result of it favored the chance to develop on the again of an organization with a deeper pocket and an analogous buyer base.
“We raised additional funding in 2022, bringing all our raised funds to around $400,000,” stated Goodness. “We also serve about 6,000 clients, many of whom are corporate clients like SureBet, and Prudential Zenith, who bring in monthly dollar revenue in five figures many times.” Despite these milestones, Sendchamp was not proof against the broader macroeconomic atmosphere, downsizing its 15-person staff earlier in the 12 months.
The acquisition looks as if the right scenario for each firms, and Whogohost believes it’ll kickstart an evolution in depth and breadth.
…. to be continued
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