Strategy

Immonet/Immowelt merger gets green light

The German and Austrian anti-trust authorities approved the merger of Immonet and Immowelt, Germany’s No. 2 and No. 3 real estate sites, as proposed by Axel Springer and Markt.Gruppe, the owners of Immonet and Immowelt respectively, on Febr. 11 (our report here). Today’s media statement here in English. Immonet will now move in under the roof of Immowelt Holding and Axel Springer Digital...

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Schibsted splits shares for more “financial flexibility”

Unless you know the background of the ownership structure of Schibsted, it may be difficult to get excited by today’s news that the company’s share capital will be divided into two categories of shares with different voting powers. Every shareholder will get two shares for his old A share: one A share with ten votes and one B share with one vote. The shares will have equal economic...

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58.com takes minority stake in Ganji — and Tencent shores up its investment

China’s classified behemoth 58.com is buying a 43.2 percent stake in rival Ganji.com by issuing 34 million new shares and paying an additional $412 million (U.S.) in cash. In a news release, 58.com said that as part of the deal, China’s Tencent Holdings Ltd., which owns about 20 percent of 58.com, will make an additional investment of $400 million —  presumably to limit the...

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LeBonCoin to hire 100 people in coming year, starts Twitter account

France’s dominant classified player LeBonCoin.fr, which according to its title offers users a “good bargain at the corner of the street,” is planning on adding another one hundred people to its current staff of three hundred. The portal has also launched its Twitter account this month. According to deputy general director Alexandre Collinet (LinkedIn profile available here), Schibsted-owned...

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MercadoLibre buys software firm

Latin American e-commerce platform MercadoLibre (Nasdaq: MELI) has bought Brazilian software company KPL Soluções for at least BRL 50 million reais (U.S.$16 million), adding 80 employees and expertise in software for online retailers, according to information from Reuters. The Brazilian company, which has about 300 clients, will focus on developing cloud-based business management software...

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Segundamano launches viral ads

Segundamano.es, Spain’s second-largest general classifieds platform, launched a new viral-ad campaign. The site, owned by Schibsted Classified Media, is dedicated to promoting the culture of second-hand shopping in Spain. This viral marketing campaign follows on a series of celebrity-led TV ads. The new campaign is based on video and viral images, and builds on the ‘Incredible...

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