Cape Town - Rubybox.co.za, a division of Media24, on Tuesday announced the management-led buyout of Rubybox.co.za from Media24. The buyout, led by Rubybox chief executive Sylvia Gruber, is effective from January 1 2015.
Geoff Cohen, head of 24.com, said: “Our partnership with Rubybox has been valuable and we have a strong belief in the management team and their ability to develop the platform from here.”
Media24 chief executive Esmaré Weideman said Media24 remained fully committed to investing in and growing its ecommerce portfolio in order to diversify its operations.
Weideman said: “While Rubybox no longer fits our ecommerce portfolio, we wish Sylvia and her team every success.”