Featured news:
Big exits in Spain last month
Good news for the startup scene.
Two big sales of of what were originally startups that grew bigger and were bought by international leaders
Milanuncios.com: Founded 8 years ago and launched in a bootstrapping way and with big competitors in the market in 2010 they overcame segundamano and continued to grow in 2011 hiring a new CEO. Now the company has been sold to Schibsted Classified Media (SCM) Spain for 50-100 million €. 50 in cash and a difficult-to-value 10% of SCM Spain. This multinational became the leader in the classified market adding Milanuncios’s 22M users per month to the group composed of coches.net, fotocasa.es, Infojobs, and the newspaper 20minutos.
Entradas.com: Operating a wide range of events this ticketing company invoiced 110M € last year managing 40M tickets per year with 14M users. Now it has been bought by CTS Eventin for an unrevealed amount of money inside a 25M operation that involves the french an netherlands subsidiaries also. The CEO María Fanjul and the team seems to keep in the project bolstering the leadership in Spain and expanding it to South America by the advanced technology of CTS Eventin.
Also in the ticketing market, Ticketea bought Telémaco Sistema, a software company that manages tickets for big events. Ticketea invoiced 17M€ and it’s consolidating they expansion.
This news is needed in Spain. First to show that a startup could grow and could be really relevant in the market to the point of being desired by big companies. And second, because this money could likely go back into the startup scene if the founders ultimately become business angels, something I think could happen.
On the down side, it seems startups can’t overcome big competitors and this feeds the “get bought” model that is quite a risky strategy. Anyway it’s good news.
links:
http://www.schibsted.com/Press-Room/News-archive/2014/SCM-Spain-signs-agreement-to-acquire-Milanuncios/
http://www.eventim.de/obj/media/en/relations/press/2014/2014-03-06-Press-pan-European-partnership-Stage-Eventim.pdf (pdf)
http://www.efeempresas.com/noticia/ticketea-com-adquiere-la-empresa-de-desarrollo-de-software-telemaco-sistemas/ (spanish)
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