Norwegian publisher Schibsted to increase startup funding and acquisitions in France30 Jan, 2013
Norwegian publisher Schibsted will increase its funding and acquisitions of French startups.
To this end, Schibsted Développement France hired Marc Brandsma who helped found companies like Lesmobilizers, Netvibes and Comwax. Schibsted will focus on early stage media and mobile startups, and the investments are to lead to acquisitions later on, after the Schibsted team helped the startups drive traffic and build a business model.
Says Schibsted on its website:
Investment in the international online classified business is one of the main pillars in Schibsted’s strategy. The aim is to establish our proven concepts, for instance the Blocket (classifieds) concept, in new markets while strengthening already established market positions at the same time.
Schibsted already owns a few French internet properties like leboncoin.fr (online classifieds) and 20minutes.fr (news aggregator). Leboncoin was 9th most visited website in France in November.
Like Axel Springer and Sanoma, Schibsted is trying to expand its footprint online and in mobile. What’s also apparent from the acquisitions is that they publishers have more faith in (paid or free) classifieds than in content…
Via JDN, photo: miggslives, Flickr
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