The chances that Fairfax Media (ASX: FXJ), parent company of Domain Group, will end up owned by a U.S. private equity firm have increased twofold, as the publishing company revealed Thursday that a second bidder had thrown its hat in the ring.
Chinese internet and entertainment mega-cap Tencent impressed the market yet again, this time with its performance in Q1 of FY2017, a quarter in which Tencent increased its exposure to classifieds on different fronts.
Immonet has changed names to Immowelt Hamburg - another signal the Immonet brand might be on its way out.
Spanish media group Vocento released its results for Q1 of FY2017, which showed the classifieds division grew revenue by 8.2 percent to €4.4 million ($4.9 million U.S.) in Q1 of FY2017 from €4.1 million in Q1 of FY2016.
The owners of general classifieds site Ekhanei.com in Bangladesh (Schibsted, Naspers and Telenor (SnT)), decided to shut the site down today (May 17), since "the market conditions didn't favor online classifieds and the owners were unable to develop the site into a sustainable and profitable business”.
HR Tech, an accelerator program backed by Australian employment platform Seek and global recruitment firm Hudson, announced that 12 start-ups and scale-ups will take part in its inaugural 12-week program.
The planned IPO by Alibaba’s (NYSE: BABA) fintech affiliate Ant Financial has been put on hold until at the least the end of 2018, and even 2019, according to the Financial Times. The move is being held up by the Chinese government, which has to approve all foreign listings of Chinese payments companies.
Yao Junhong, founder and CEO of Souche, said the company plans to issue RMB 10 billion ($1.5 billion U.S.) in asset-backed securities (ABS) in 2017. Souche has already issued about RMB 330 million in ABS in 2017 in partnership with Tebon Securities.
In Scandinavia, OLX Brazil is said to have a good chance of becoming the next Avito-like success story. In FY2017 OLX Brazil is expected to take the first step in that direction and turn its net loss of NOK 208 million in FY2016 into a surplus in FY2017.
Rakuma and Fril, two stuff brands of Japan’s e-commerce tycoon Rakuten, continued to record outstanding growth in their gross merchandise sales (GMS) in Q1 of FY2017. Last year also went phenomenally well for the two marketplaces.