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Friends Reunited Under the Hammer!By Roger CaterAuction-Desk.com September 24th, 2005 Friends Reunited website has set a deadline of next week for bidders to set their prices for the site. The website has ruled out selling to venture capitalists. It has attracted interest from at least six companies from old media like News Corp, Yahoo! and eBay, according to the FT. The paper values the firm at more than £100m and says bidders include British and American firms. The site puts old school friends back in touch and in the past has been accredited with breaking up marriages. The site has branched out into dating, jobs and genealogy websites and is expecting to make a profit of £6.5m this year and claims 12m registered users which is consistently on the incline giving newly appointed financial advisors Long Acre something substantial to put it’s teeth into for a positive sale. The sale of the website gives the original founders Steve and Julie Panhurst and co-founder Jason Porter who still own a 60 per cent share of the business between them a very profitable business. Please checkout what FT says. | ||
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