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October 10, 2007
Founders Sell Stake in Katshing Online Mobile Telephony Retailer
Swedish online retailer Katshing Netsales, whose website's tagline is Katshing - the Swedish Mobile King, has signed over a 20% stake to private equity firm Ledstiernan in a deal that values the four year old and profitable company at about €3.3M.
Anders Phil, founder of Katshing, said in a statement: "The Internet is the most effective and at the same time the most transparent and brutal marketing channel there is .. if you don't continually deliver added value and quality you lose business".
The company, which was self-financed until now, must be doing some of that right because it expects sales to grow by 130% this year to about €13M, and the trend in the last two years is 95% growth. The firm saids its goal is to continue to grow both in Sweden and elsewhere.
Ledstiernan invests in Katshing Netsales
Posted on October 10, 2007 03:51 PM | Posted to News And Updates | Permalink
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