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February 12, 2007
AdenClassifieds Readies IPO In France
The French press is reporting that online classified ads startup, AdenClassifieds, has filed for an IPO. No details on the date or the amount to be raised yet. It acquired Openmedia for €7.5M which was doing about €1.4M in annual sales earlier this month to bulk up its business.
AdenClassifieds is the result of a rollup of three companies operating several web sites: Cadremploi, Keljob, Kelformation, and Explorimmo - offering job ads and real estate ads. AdenClassifieds now employs about 250 people and has about €33M in annual sales in 2006, up from €21.1M in 2005. Its Ebitda was €3.3M in 2006, up from €2.3M in 2005, according to Les Echos.
Besides strategic investors like Publiprint, shareholders that stand to benefit from an IPO include Paris VC, Banexi Ventures, which had been backing Keljob since 2000.
Source - Adenclassifieds vise une entrée en Bourse rapide - INTERNET ADENCLASSIFIEDS (les echos)
Posted on February 12, 2007 04:57 AM | Posted to IPO | News And Updates | Permalink
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