Categories: Business

Norwegian firm buys majority stake in DoneDeal

DoneDeal is a household name in Ireland

DoneDeal, Ireland’s largest classified ads website, has sold a majority stakeholding to Norwegian firm Schibsted Media Group. Schibsted has acquired a 50.09% stake in DoneDeal with financial arrangements remaining undisclosed.

DoneDeal is one of Ireland’s great indigenous success stories. The company was founded in 2005 by Fred and Geraldine Karlsson and has grown phenomenally ever since. The fiscal year ending April 2011 reveals revenues of just over €3 million and a business that is growing by 124% each year.

DoneDeal receives over two million unique visitors each month, posting some 85,000 new items in a similar period.

Fred Karlsson will continue to manage the company and retain a major shareholding. It is understood that all ten staff members currently based in Wexford will continue their employment.

Fred Karlsson stated that the deal would “better service and experience” for customers and would help bring the website “to the next level of growth” that they aspire to.

Albizu Garcia

Albizu Garcia is the Co-Founder and CEO of Gain -- a marketing technology company that automates the social media and content publishing workflow for agencies and social media managers, their clients and anyone working in teams.

Recent Posts

NTT’s simultaneous Kabuki performance shows photonics connectivity is more than a song and dance

In a fusion of tradition and technology, Japanese tech firm NTT unveiled the capabilities of…

1 day ago

UN finalizes neurotech ethics draft, to be adopted at General Conference

The United Nations Educational, Scientific, and Cultural Organization (UNESCO) finalizes its "Recommendation on the Ethics…

6 days ago

Inside the Dead Internet Theory: Profits in a World Run by Bots

The dead internet theory is a conspiracy theory that goes: Most of the content we…

7 days ago

Check out the cool new pet-tech at Leap Venture Studio’s 9th Cohort Demo Day

Pet lovers are increasingly turning into tech lovers as well as the pet care world…

2 weeks ago

Tony Blair wants UK to enable animal gene editing, fund precision-bred livestock

Is genetically editing animals really about preventing pandemics, or is there something deeper to it?…

2 weeks ago

With space economy projected to reach $944 billion, Nisum and DeepSpace Technology partner-up to drive AI innovation to infinity and beyond

With the rise of GenAI dominating conversations in recent years, it can be easy to…

2 weeks ago