Real estate site 99.co (note: this is not a dot com) recently secured $7.9 million U.S. in fresh funding, in a round co-led by Sequoia India and Facebook co-founder Eduardo Saverin. Both are existing investors and members of the 99.co board. Existing investors East Ventures and 500 Startups also joined in.
WebMotors, the Brazilian auto vertical owned by Santander Bank and CarSales, saw its net income decline 1.6 percent (in local currency) in the financial year to end-December 2016 from FY2015, despite a rise in revenue.
The board of Telegraaf Media Group (TMG) unexpectedly fired the CEO and CFO (Geert-Jan van der Snoek and Leo Epskamp respectively), for allegedly endangering the take-over by a consortium consisting of Het Mediahuis and VP Exploitatie, took control of the communication lines with the consortium, and issued a joint statement with the consortium provisionally accepting an offer valuing TMG at $295 million U.S..
Germany’s largest real estate site Immobilienscout24 deepened its partnership with student accommodation site Wg-suche.de, as part of its strategy to reach a younger audience.
Chinese jobs site operator Zhaopin Ltd. (NYSE: ZPIN) announced on April 6 that it had entered into a definitive agreement and plan of merger with Australian-based, global recruitment group Seek International Investments (ASX: SEK), the current controlling shareholder of the company.
China’s Souche.com, a Hangzhou-based, c-to-c used-vehicle site, secured $180 million U.S. in a series D funding round led by U.S.-based private equity firm Warburg Pincus LLC.
Ringier chairman Michael Ringier introduced the FY2016 financial report yesterday with the words, “things are very much on track.” Thanks (also) to the performance of its classifieds portfolio.
Ringier Axel Springer Media acquired 100 percent of CV Keskus, a company with leading job sites in the Baltics, from HeadHunter Group for an undisclosed amount.
Digital Classifieds Group (DCG), a private-held, Australian company operating online classified sites throughout Southeast Asia and the Pacific, acquired a majority stake in the Laos-based free classifieds horizontal Yula.la for an undisclosed amount.
Kunming Sinobright Group*, a nationwide department store operator in China, announced the acquisition of 94 percent of the real estate site Aiwu Jiwu (registered as Beijing 5i5j Real Estate Brokerage), for about 6.18 billion RMB ($899 million U.S.), partly paid for in cash (1.8 billion RMB), and partly with the issuance of shares (4.3 billion RMB).