AIMGroup: “Shpock now 100% owned by Schibsted”
AIMGroup reports that Renovata client Schibsted has finalised a mission-critical buyout of Shpock, the “boot sale” app and mobile marketplace for the UK, Germany, Austria and Sweden.
Details of the sale have not been released, but Schibsted already owned 91% of Shpock and AIMGroup reports that this gives the business unfettered freedom to execute a cost-cutting strategy and take Shpock (highly valued, but losing money) towards profitability.
The Schibsted family also includes Aftonbladet, Subito and adverts.ie
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Originally published: January 25, 2019