Hamburg-based Xing, operator of the leading online business network in German-speaking countries, purchased Vienna-based Prescreen.io for €17 million ($19.4 million U.S.). Prescreen offers a candidate management system to a growing list of well-known companies in the German-speaking region.
Listed Australian rentals site Rent.com.au released a preliminary financial update to the Australian Securities Exchange (ASX) on July 7, which showed so-called "continuing revenue" (a portion of total revenue) had climbed to $1.3 million AUD in FY2017 (to end June). A comparative number for FY2016 was not released. But, with total revenue in FY2016 at $748,500 AUD, we can expect a handsome y-on-y rise in total revenue in FY2017, when the audited report for the FY2017 is released on July 24.
Jiangsu-based used-auto platform Taochele (淘车乐) listed on China’s over-the-counter equity market, the National Equities Exchange and Quotations market (NEEQ).
Frontier Digital Ventures recently announced that it will exercise an option to increase its ownership in general classifieds site Encuentra24 (operating in Central America) from 38.7 percent to 42.1 percent for a cash payment of $1.1 million U.S. out of FDV's existing cash reserves. This is the second time in about six months that FDV injected capital into the site. In December last year, FDV also injected capital into Encuentra24. On what basis does FDV make these decisions?
Baixing.com, one of China’s leading classifieds sites, released its FY2016 annual report this week, and it revealed a net profit for the Shenzhen-based company in FY2016 of 11.2 billion RMB ($1.7 billion U.S.). This was the first time Baixing released an earnings report, and the first time it made a profit over the period of a full financial year.
Shortly after the release of its FY2017 financial report last week, Naspers invested another $30 million U.S. in Movile, a Brazilian-based, mobile marketplace developer (news release here). It's been an investor in Movile since 2008 and holds 70.7 percent of the company.
Auto.ru, one of Russia's leading auto verticals, purchased thirty-three, regional auto sites from media company Hearst Shkulev Digital (HSD), for what is believed to have been around $8.5 million U.S.. The deal will also see the two companies enter into a partnership. While the purchase was effectively made by parent company Yandex (YNDX), the deal was driven by Auto.ru.
Purplebricks Group, the online estate agency, reported a doubling of its revenue and a halving of its pre-tax loss in FY2017 (to end-April). The company is listed on the Alternative Investment Market (AIM), a sub-market of the London Stock Exchange, with the ticker symbol PURP. It operates in the U.K., and Australia, and plans to launch in the U.S. later this year.
Naspers CEO Bob van Dijk told analysts last week there is no plan to hive off the golden goose Tencent; the plan is rather to narrow the gap in the contributions of Tencent and the e-commerce business to the bottom line.
Naspers’ classified businesses in Poland increased their combined revenue to 256 million Polish zlotys (or $69.4 million U.S.) in FY2017 (to end-March), up from 148 million Polish zlotys (or $40 million U.S.) in FY2016.