Spanish social network Wamba has been acquired by New York based Latino entertainment community Mio.tv.
According to Techcrunch the company was acquired for approximately €4 Million, however other sources claim it’s closer to the €5million mark.
Wamba initially raised €3 million from Skype investor and recently bankrupt entrepreneur Morten Lund in 2007, however the acquisition should come as good news to Lund who retained 40% of Wamba shares.
With 8.4 million users, Wamba is in the third most popular social network in Spain, however it lies far behind the likes of Facebook and Tuenti who are in first and second respectively.
“Mio.tv initially raised €3 million from Skype investor and recently bankrupt entrepreneur Morten Lund in 2007, however the acquisition should come as good news to Lund who retained 40% of Wamba shares.”
You mean Wamba probably….
€4 million for 8.3 million users is near to peanuts… The network must have been dead, because 50 cents per user is even in this economic times unheard of.
8.4 miljoen gebruiker en slechts vier miljoen euro. Dan wil ik bij deze graag een bod uitbrengen van EUR 5M op Hyves.nl! Lijkt me een nette deal…
Apologies, amended…and about the value per user – i’m with you – if there’s anyone that would know it’s you! :)