Viadeo Buys ICTnet To Fight Xing On Business Networking
By Robert Andrews - Wed 16 Jul 2008 02:04 AM PST
LinkedIn clone Viadeo has acquired Spain’s ICTnet, a business-oriented community site listing 55 such communities. Viadeo’s Spain country manager Pedro Sanchez Pernia wrote the deal gives it 300,000 users in the country. Viadeo was started in France in 2002, launched in the UK last year, has €15 million funding and over two million users. It’s also targeting China. Acquisition price isn’t given, though Spain’s Loogic blog estimated it at €3 million. This is the next step in consolidation of the Spanish professional social networking market, following Xing’s acquisition of both Neurona and Econozco last year.
Posted in: Countries, Asia, China, Europe, Spain, Money, M&A, Social Media
