Earlier this week we reported that Schibsted's share price had been pulled down by media reports that Facebook Marketplace will launch in Scandinavia soon. Now, a senior Schibsted manager gave a very interesting explanation to Reuters for why Facebook Marketplace doesn't scare Schibsted.
Bilia, a leading chain of auto dealers in Scandinavia, introduced online transacting of used autos on classifieds site Finn in Norway with a clever buy button. Bilia, a company listed on Nasdaq Stockholm, was first out of the blocks in Norway with online shopping of used cars.
Schibsted's share price has taken a huge dip on the local stock exchange since the start of trading this morning - it lost eight percent in morning trade.
Now you can buy a premium membership on the Schibsted-owned app flea market Shpock and get several perks - one of them being that your user experience becomes advertising-free. That is, at least, the perk that Shpock promotes strongest of all.
Norberg accepted the position of CEO of the Danish auction and classified group Lauritz.com, which claims to be the biggest auction group in the Nordic countries. Norberg will move to Copenhagen with his family soon.
Last week, Schibsted published its estimates of the sizes (as measured by revenue) of the online real estate vertical and auto vertical in Brazil. Its estimate of the annual real estate market is slightly lower than our own.
Schibsted is assembling a team in Oslo to look after user privacy matters across all the sites in the group. In a blog post, Ingvild Næss, group privacy manageress, wrote about the initiative. And, in response to our questions, Næss said: "We don't know who big the team will end up being; the important thing is to find the right people."
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".
Today, Schibsted reported a record-high gross operating profit for Q2 of FY2017, as part of a sunny report from Oslo, where most people are already on holiday. EBITDA was higher than expected and at NOK 4.3 billion ($533 million U.S.), Q2 revenue was slightly higher than analysts had expected.
Singapore Press Holdings (SPH) reported its results for the third quarter of FY2017 with net profit at $28.9 million U.S. from $52.7 million U.S. (-45.2 percent) in Q3 of FY2016. Revenue dropped 10.8 percent in the period to $189.8 million U.S..