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July 06, 2007
Tomorrow Focus Buys Into Dating and User-rated Hotels Sites
Tomorrow Focus, the German online publisher and media company, has acquired 63 percent of Elitemedianet, the company that runs Elitepartner.de, a two year old dating site, reports OneToOne.
The offer is for €8.4M to be paid immediately plus €6M more for the stake, depending on the financial performance. Founders and Elitemedia Beteiligungs GbR will own 20 percent and Burda Digital Ventures, an early investor, with 17 Prozent, after the deal is done.
Tomorrow Focus is publicly traded and its major shareholder is Burda Media.
Elitepartner.de claims 500k registered users with 1K joining daily. It employs 47 and is based in Hamburg. The company's founders Arne Kahlke and Sören Kress will stay on.
Tomorrow Focus is also paying €560K for Holidaycheck.de which has 15K users that rate hotels and holiday destinations. Bulgarian hotels are rated in the above example.
Posted on July 6, 2007 05:40 PM | Posted to News And Updates | Permalink
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