Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

tinker

Friends Reunited For Sale

Recommended Posts

I thought when Friends Reunited came along it was a great idea, probably the first 'social networking' site. Quite a fall in value - or realism following the ludicrous initial valuation.

Put me in touch with a lot of people, though not the one person I'd like to find ;)

This is the story.

ITV may sell Friends Reunited site

Broadcaster ITV is close to sealing deal to sell social networking site Friends Reunited for just £15 million, it has been reported.

ITV paid an initial £120 million for the business in December 2005, but the popularity of websites such as Facebook and the slowdown in online advertising due to the recession has dramatically reduced its value.

The Mail on Sunday said entrepreneur Peter Dubens' private equity firm Oakley Capital was in exclusive talks to buy the business for about £15 million.

ITV put the Friends business up for sale in March, little more than three years after it bought it for an initial £120 million from founders Steve and Julie Pankhurst, the husband and wife team who set up the website in 2000.

Under the deal, first announced in December 2005, ITV was due to pay up to £55 million more this year depending on the performance of the business.

Friends Reunited delivered around half of ITV's £36 million online revenues in 2008, but saw its own revenues fall by £4 million over the year due to the loss of subscription income as the reunions site relaunched on an advertising-funded basis last May.

http://www.pressassociation.com/home/news/...s_reunited_site

Share this post


Link to post
Share on other sites

Cack website, outdated business model. In fact, the entire ITV network in microcosm.

[/quote

I used to be a member but TBH it never put me in touch with anybody decent. All in all pretty crap.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   296 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.