Web site operator, Friends Reunited has found a new bidder in Trinity Mirror, who is now joining the league of influential bidders in queue for the acquisition of the £100m worth website.
Trinity’s founders, couple Steve and Julie Pankhurst along with their friend Jason Porter, came about this reunion website only five years ago. It is now up for sale at £100m and has big names, like newspaper groups, DMGT and News Corporation, Yahoo and eBay in its list of bidders. Offers will close at the end of this week.
However, the Pankhurst couple and Porter will continue to have a 30% stake of the company, with the remaining company managed by chief executive Michael Murphy.
Friends Reunited boasts of an impressive 12mln registered users in the country, with business operating far and wide in Australia, New Zealand and South Africa. Furthermore, the site has diversified into a family tree research site, called Genes Connected, along with a dating site, and a job recruitment site.
Posted
on : Mon, 26 Sep 2005 17:45 GMT | Business News
By : Mark Richardson
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