RTL Interactive, the Internet brance of the RTL Group (German) announced their 100% takeover of Wer Kennt Wen.
Marc Schröder, the CEO of RTL Interactive responded to the takeover in a interview with a German newspaper that RTL wants to become less dependent of tv advertisements, instead they want to focus more towards Internet and e-commerce. Wer Kennt Wen currently has 5.5 million members, the transaction is estimated at 10 million Euros. RTL Interactive is not new in the Internet brance, they booked a turnover of 200 million euro’s in 2007.
Moral of the story, the memory of StudiVZ (holding 5 times less users at the time) being bought for 85 million Euros in 2007 is still fresh. Was StudiVZ worth the money? While Business Angels are utterly scared getting their hands dirty, media giants realize that Internet startups are on sale these days. (read more)