Earlier this year, Horizontal Media was acquired by Lit Capital, a venture capital fund with a focus on high-growth companies in the Baltic region. Lit Capital is led by CEO Šarūnas Šiugžda while Horizontal Media by Per Moller. The latter company also owns peer-to-peer book trading site Sena.lt.
The deal will lead to an expansion of the services offered by Autogidas and Domoplius to enhance the customer experience and strengthening their market position, commented Evaldas Narbuntovićius, who manages the acquired sites, in a report on 15min.lt.
Vertikali Medija was acquired by ZLG from Eesti Media in 2016 in the wake a ruling by Lithuania’s Competition Council. Eesti Media owns several other classified sites, including real estate site Aruodas.lt, job site Cvbankas.lt, auto site Autoplius.lt and general classified site Skelbiu.lt.