mobile.de sold for €121 million

Filed in archive Venture Capital on January 27, 2004

It's done. As reported earlier the bidding was in full flow in the last weeks for Hamburg based mobile.de. Not very surprisingly ebay had no problem to outbid the other bidders landing a deal to buy the online classifieds site for �121 million in cash. The transaction sets a good mark for further deals - five times the 2003 revenues...

What I liked most is a statement from an ebay spokesman regarding the earnings outlook:

"The acquisition will not have a noticeable effect on projected earnings."

Amazing!