No big deals were announced in the classifieds division at Schibsted's Q2 results presentation today, but Schibsted Growth presented a deal that has a few classified connections, making it worthwhile to report. Schibsted will sell its search engine business in Sweden to a group with well-known “classifieds personalities".
Vostok New Ventures held a capital market day in Sweden on June 9. The two Avito founders moderated the event. Among the speakers were Michael Lahyani and Henrik Persson. The entire event is available on YouTube (duration: 4 hours). We tell you where to scroll to for the juiciest bits on classifieds.
About 30 of the biggest real estate brokerages in Sweden have been given the chance to buy shares in Hemnet at the same price as General Atlantic (GA), and the investor group Merro Partners (Henrik Persson, Pierre Siri, Vostok New Ventures, among others) bought Hemnet shares back in December.
Everyone keeping an eye on our industry news feed, has followed the trials and tribulations of the Hemnet sale in the past year. Now, the deal is in the bag, the new owners have taken over, and the company has a new board of directors. Who is on the new board of Hemnet?
General Atlantic, a "growth equity" investor, has taken a majority stake in Hemnet, the Swedish real estate site, after a Schibsted acquisition was blocked earlier this year by the Swedish competition authority.
Vostok New Ventures showed a nice profit-growth in its 9-month report, thanks mostly to a revaluation of Avito after the Naspers deal with Kinnevik.
When Per Brilioth, CEO of Vostok New Ventures, announced that his company invested $7.5 million U.S. in an investment company Merro, he left the audience with one big mystery: In which classifieds had that company already invested. He gave several clues and left everyone free to come up with his own candidates.
This was his first clue: They are three online classified sites in the Mena region (Mi
Henrik Persson (40), former head of investment at Kinnevik, has left the company after more than 12 years with the group.
Persson (LinkedIn profile page) has a special i