Vienna, 02.06.2021
Russmedia Equity Partners acquires the online marketplace Shpock from the Norwegian online classifieds specialist Adevinta. In addition to its current market presence in Austria and Germany Russmedia Equity Partners as a new owner wants to make Shpock the leading mobile-first classifieds provider in the UK. The deal is already approved by the UK Competition Authority (CMA). The parties have agreed not to disclose the purchase price.
Focus on UK and Austria
Shpock was founded in Austria in 2012 and expanded into several European markets under the ownership of Adevinta. Russmedia Equity Partners now wants to further expand Shpock’s market position in the United Kingdom, and at the same time to strengthen its presence in Austria: "In the UK, the Shpock team has already achieved a credible position – we want to stay on top of it. Here in Austria, together with the team, we will quickly check the possibility of expanding the offer for domestic customers.", says Nicola Szekely, Managing Partner of Russmedia Equity Partners.
The investment subsidiary of Vorarlberg-based publishing house Russmedia is planning to make the mobile-first marketplace Shpock one of the leading digital platforms in the UK. A strong focus on performance marketing and brand building advertising is also planned in Austria and Germany.
“Shpock is an online classifieds specialist with a highly skilled team. We are pleased to have found such an experienced industry player as Russmedia to carry on Shpock’s development,” says Rolv Erik Ryssdal, CEO Adevinta.
With the new acquisition Russmedia Equity Partners – whose successful investments include such companies as Bergfex, Erento and Alpinresorts – will strengthen its portfolio in the area of digital marketplaces, aggregators and SaaS businesses.
About Russmedia Equity Partners
Russmedia Equity Partners is an investor in and operator of online marketplaces, aggregators, and SaaS solutions. Russmedia Equity Partners has over 20 years of experience in successfully investing in and operating digital companies. The company currently runs a profitable portfolio of 19 digital businesses across 6 countries in Europe. Headquartered in Schaan (Liechtenstein), Russmedia Equity Partners is investing 100 million Euro to significantly increase its commitment to international digital growth. Russmedia Equity Partners is seeking long-term partnership with management teams in order to empower sustainable businesses. It focuses on strategic acquisitions and supports entrepreneurs throughout the life cycle of their company.
About Shpock
Shpock is a generalist (app-first) mobile online classifieds site that was acquired by Schibsted in 2015. The mobile online classifieds site is turning its focus from location-based discovery to a transactional classifieds site, with categories ranging from electronics, fashion and furniture to specialised verticals such as motor and real estate. In 2019, Shpock had approximately 26 million listings in the UK and since its launch in July 2015, Shpock has had 52 million total downloads worldwide and had approximately 92 percent of traffic from mobile in 2019.
About Adevinta
Adevinta is a global online classifieds specialist, operating digital marketplaces in 9 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio spans more than 30 digital products and websites, attracting 1.3 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50 percent of fast-growing OLX Brazil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA and employs 4,700 people committed to supporting users and customers daily. Find out more at Adevinta.com.
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2 June 2021
