Tamedia acquires majority stake in Tilllate Switzerland
After gradually increasing its stake in the internet platform Tilllate.com, Tamedia is now acquiring a majority stake. With an additional 51 percent increase, Tamedia now holds approximately 86 percent of the shares.
After successively increasing its stake in the internet platform Tilllate.com, Tamedia is now acquiring a majority shareholding. With an increase of a further 51 percent, Tamedia now holds around 86 percent of the shares. The remaining 14 percent of the share capital will remain with the founders Christian Hagmann, Silvan Mühlemann, Markus Popp and André Schraner, who will continue to support the expansion of the platform in Switzerland.
Due to the changed competitive environment, the two partners have agreed to further intensify their cooperation, as detailed in a press release issued on Monday. The nightlife platform complements Tamedia's online media perfectly. Tilllate.com has already been working with 20 Minuten for some time and is a partner of the people magazine Friday, which was launched in fall 2008. Following the takeover of the majority of the Swiss business by Tamedia, Tilllate Holding is concentrating on foreign markets and will reorganize its activities in this area.
In a first step, Tamedia acquired 20 percent of the share capital of Tilllate Switzerland on July 1, 2007. In May 2008, the media company increased its stake by a further 15 percent.
The Internet platform was founded in 2000 and today reaches around 400,000 unique clients in Switzerland (Wemf Net-Audit December 2008). Over 200,000 users are registered on the portal. The company employs around 30 people, with an additional 350 photographers working on the site every week.
Due to the changed competitive environment, the two partners have agreed to further intensify their cooperation, as detailed in a press release issued on Monday. The nightlife platform complements Tamedia's online media perfectly. Tilllate.com has already been working with 20 Minuten for some time and is a partner of the people magazine Friday, which was launched in fall 2008. Following the takeover of the majority of the Swiss business by Tamedia, Tilllate Holding is concentrating on foreign markets and will reorganize its activities in this area.
In a first step, Tamedia acquired 20 percent of the share capital of Tilllate Switzerland on July 1, 2007. In May 2008, the media company increased its stake by a further 15 percent.
The Internet platform was founded in 2000 and today reaches around 400,000 unique clients in Switzerland (Wemf Net-Audit December 2008). Over 200,000 users are registered on the portal. The company employs around 30 people, with an additional 350 photographers working on the site every week.
