Tamedia increases stake in Tilllate Switzerland

 The media company Tamedia has increased its stake in the nightlife platform Tilllate.com by 15 percent to 35 percent. As the publishing house announced in a press release on Monday, the two partners have agreed to increase Tamedia's stake in Tilllate Switzerland more quickly than originally planned due to the successful cooperation. The early increase in the shareholding will allow Tilllate Holding to accelerate the planned expansion in Switzerland and abroad. The increase in the stake by a further 14% to 49% is to take place as planned at the beginning of 2010. The parties have agreed not to disclose the terms of the transaction. The Tilllate.com platform was founded in 2000 and reaches 459,000 unique clients in Switzerland according to the Wemf Net-Audit of April 2008. There are 200,000 registered users on the portal. Tamedia acquired 20 percent of the share capital of Tilllate Switzerland on July 1, 2007 (see
). Tilllate Switzerland employs around 35 people, with an additional 350 photographers working in Swiss nightlife every week.