Ernst-Jan has already written a piece about how useful the Quintura corporate blog is for keeping up-to-date on the latest developments in Eastern Europe and Russia. Now Yakov brings us this gem: apparently Czech search engine Seznam is talking to potential buyers about selling for a price exceeding $1 billion. Yes, that’s billion with a ‘b’ as in ‘big money’.
Google is cited as a potential acquirer, along with private equity firms Warburg Pincus, owner of Czech portal Centrum, and Macquarie Capital Alliance Group, owner of Czech yellow pages publisher Mediatel.
Seznam had 62% share of the Czech search market vs. Google’s 29% share. The site reported 4.4 million unique users in May 2008, and is estimating bringing in revenues of approx. $90 million this year, up 40% from 2007. The company was previously valued at $300 million after two private equity firms bought out Lycos Europe’s 30% stake for $91 million. The majority of shares is still in the hands of founder Ivo Lukačovič.
There seems to be a huge consolidation wave in the Czech internet landscape (see Yakov’s post for more on that), but if this deal goes through, it would make it one of the largest in the history of the Eastern European web scene alltogether.
I can’t imagine google buying another search engine. I can imagine them buying other companies, but search???
Ah, it’s good to see article about Czech internet here (yes, I am Czech).
We don’t know, how it is about selling Seznam but these are just speculations. Ivo Lukačovič said that in the end of the year, he still will be owner of Seznam. So maybe he will just sell some stocks.
I know you probably think, that Seznam sucks in compare with Google but it’s not true. Seznam is really good (local) search engine and it has also many other great projects. I would be very upset if some company like Google just buys it a forward it’s users to their site.
I think this gives a clear indication on what the value of search is. I also think it’s a good thing that some search markets are NOT dominated by Google.
ohh…very crazy,it is real?i can’t believe it..
I think one billion is too much.
Seznam is an interesting web directory, but as search engine it has not future…
I think you overslept last few years. :)
To be honest, I don’t think Google is a serious contender in this story, seems more likely the private equity groups are steering towards consolidation.
i also think that google not serious in this story..unbelievable if google get serious
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