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January 03, 2007
German Facebook Clone Acquired By Publisher
German student social networking company, StudiVZ, has been acquired by Holtzbrinck, the German publishing company for an undisclosed amount. Focus online is reporting that the startup had two bidders, Axel Springer, which owns Bild magazine (among other titles) and Georg von Holtzbrinck, which publishes Die Zeit, among others.
The same publication says that Axel made a final bid of €120M but that Holtzbrinck won at a lower price point. Der Spiegel had a quote from StudiVZ's spokesman that said the winning bid was well below €100M. We have been unable to get any indication of the price paid from our contacts.
StudiVZ had raised a couple of million in venture capital from private investors, including Spreadshirt founder Lukasz Gadowski, the Samwer brothers of the European Founders Fund, as well as Holtzbrinck's own venture arm.
Read - Die Online-Studenten-Kontaktbörse StudiVZ ist verkauft worden (focus.de)
Read - Community-Millionendeal: Holtzbrinck schnappt sich StudiVZ - Netzwelt - SPIEGEL ONLINE - Nachrichten
Posted on January 3, 2007 03:04 PM | Posted to News And Updates | Permalink
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