The Chinese ecommerce giant Alibaba (NYSE: BABA), parent company of Taobao and its used goods sister app Xianbei, has netted $1billion US by selling off its position in Momo Inc. NASDAQ-listed Momo is a Beijing-based location-based livestreaming and instant messaging app. Momo’s stock has been soaring in the first few months of 2017, more than doubling in value and peaking at close to $40 US...
In its report for Q1 of FY2017, released earlier this week, Kinnevik revealed a number of interesting facts about its two classifieds investments - Quikr and Saltside.
DIP Corp. (TSE: 2379), Japanese operator of a jobs site for temporary jobs and a second site for part-time jobs, posted a profit of JPY 6.2 billion ($56 million U.S.) in the financial year to end-February, which was 32 percent higher than in FY2016, the company said in a filing to the bourse on Wednesday.
Revenue of Alma Markets, the business unit of Alma Media which houses the classified businesses of the company, climbed a very respectable 17.8 percent from Q1 in FY2016 to Q1 in FY2017. Its adjusted operating profit grew by 51.4 percent in the period.
Auto Trader Group acquired Macclesfield-based Motor Trade Delivery Limited (MTD) for an undisclosed sum. MTD operates an online, real-time marketplace for the trade delivery of vehicles across the U.K.. Through the site, car dealerships and rental companies list ‘jobs’ – vehicles that need moving to another retailer site or a customer – and logistics providers bid for the 'jobs' in a live auction process.
The revenue of the division Consumer Media of Sanoma Group (where the classified businesses in Finland and the Netherlands are housed, including auction platform Huuto and marketplace Oikotie), stayed on the growth path in Finland in Q1 of FY2017 from Q1 of FY2016, but declined slightly in the Netherlands and Belgium. Sanoma released its financial results for Q1 earlier this week.
German media group Axel Springer acquired Paris-based Concept Multimedia, which operates France’s No. 3 property platform Logic-Immo, for €105 million ($115 million U.S.), according to a news release of Axel Springer.
Axel Springer already owns SeLoger.com, France’s No. 2 property site, which it acquired in 2011 for €633 million ($850 million U.S.). The sale is subject to the approval of the French Competition Authority.
Daikuan.com, one of China’s fastest growing new- and used-vehicle finance and insurance services platforms, announced the issuance of asset-backed securities (ABS) valued at 2 billion RMB ($290 million U.S.). This will be the sixth issuance of ABS by Daikuan to date.
Interactive Advertising Bureau (IAB) Belarus, and leading classified sites in Belarus said total turnover in the classifieds industry of Belarus grew 17 percent to $9.3 million U.S. in 2016 from 2015.
The start-up recruitment platform Beichoo.com completed a series A funding round, in which it acquired “several tens of millions of RMB” (several million U.S. dollars) from Zhejiang Sinowisdom Capital and Jiu Yuan Capital.