ProSiebenSat.1 Said to Agree to Acquire Stake in MeetOne Website
ProSiebenSat.1 Media AG (PSM)’s venture capital unit agreed to buy as much as 30 percent in MeetOne, a social networking website founded by entrepreneurs including BigPoint GmbH Co-Chief Executive Officer Heiko Hubertz, two people with knowledge of the matter said.
An agreement may be announced as early as today, said the people, who asked not to be named because the discussions are confidential. The deal with Germany’s largest private broadcaster values Hamburg-based MeetOne at about 25 million euros ($34 million), one of the people said.
MeetOne was founded in 2010 and started operating six months ago. With “a couple of hundred thousand members,” the website focuses on Germany and plans to expand in countries such as the U.K. and France, Hubertz said in a telephone interview.
“It’s not just about dating,” Hubertz said. “MeetOne is all about finding other people with the same interests that you have, in your region, for social experiences -- for example, someone to play tennis with or going to the cinema with.”
BigPoint is one of Europe’s largest online games companies with about 230 million users. TA Associates Inc. and Summit Partners LP, two Boston-based private-equity firms, in April agreed to pay about $350 million for a majority stake in the maker of “Seafight” and “DarkOrbit” games.
While membership of MeetOne is free, users can pay to improve their search results, making it easier for other members to find them, Hubertz said.
Digital Pioneers NV, an investment company 80 percent owned by Hubertz, has a 20 percent holding in MeetOne. Digital Pioneers also has stakes in online businesses including Easybill.de, Gamzee.com, Luxodo.com and Oxolo.
To contact the reporter on this story: Niklas Magnusson in Hamburg at email@example.com
To contact the editor responsible for this story: Angela Cullen at firstname.lastname@example.org