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[edited by: Brett_Tabke at 1:03 pm (utc) on June 18, 2003]
The deal, revealed in The Times this morning, was struck this week but official confirmation is thin on the ground, since neither company was quite ready to announce the move to the markets - FindWhat.com is listed on the NASDAQ exchange
Interesting from Article:
Combined group would service approximately 40,000 advertisers and is expected to generate combined revenues of over $140 million in 2003
From Annual SEC for FIndwhat [biz.yahoo.com]
Revenue was approximately $42.8 million for the year ending December 31, 2002
This would mean Espotting stood for a large amount of the revenue in 2003, my guesses more than findwhat stood for.
From first Q report this year:
Revenue was approximately $15.8 million for the three months ending March 31, 2003
The Company announced that it believes revenue in Q2 2003 will be over $17.0 million, versus Q1 2003 revenue of $15.8 million
[edited by: lazerzubb at 11:59 am (utc) on June 18, 2003]
Sounds a good move all round for Espotting and Findwhat.
Daniel Ishag, a founder of Espotting told Reuters the combined firm will be able to cross-sell technologies to clients on both sides of the Atlantic.When asked about the takeover speculation of the new firm, he said: "Together, I would say we look very attractive."
OK, so I got it WAY WAY wrong about Yahoo buying them, and will be paying out on my bet tomorrow :(
However the above quote makes some deep reading
Well, if a company brings in more revenue and has a higher demand then its off line counter part then it will sell for more money.
I think it is good also that Espotting is retaining its business name and not being sold outright, the new board being comprised of key people from both companies.
I think also if cpc prices for competitive keywords start to rocket then advertisers with smaller budgets will turn to some of the smaller ppcs providing they can offer good roi.
It will be an interesting year.
Yep fraid that has no real bearing - I know a company of capitalisation £0.6m that paid over £5m for a competitor recently - very bad but it was though for a range of reasons far to dull for this thread!
I think this could be a very good thing - big question is whether Yahoo now waits in the wings until the integration is complete and then steps in to purchase therefore saving years of development to get it's own ppc!
Could be interesting times - seems Kanoodle just didn't cut it despite the reciprocal between them both for a couple of years!