Kinnevik invests EUR 25 million in Wimdu.com
(Thomson Reuters ONE) -
Investment AB Kinnevik publ. ("Kinnevik") today announced that it has invested
EUR 25 million in the travel marketplace company Wimdu.
Wimdu is a consumer-to-consumer travel market place where the core of the
business is to enable private individuals to rent out their rooms, apartments or
houses to other people needing temporary housing for work or leisure. Wimdu has
a global presence with 400 employees in 50 countries and offices in 15 countries
covering all continents. It also owns and operates Airizu.com which is a Chinese
sister site.
The company was founded in 2010 and was seed-funded by Rocket Internet. Kinnevik
is now participating in a new issue in order to finance Wimdu's international
expansion. In addition to the EUR 25 million now invested, Kinnevik has warrants
to double its investment in Wimdu to a total of EUR 50 million.
For further information, visit www.kinnevik.se or contact:
Torun Litzén, Director Investor Relations +46 (0)8 562 000 83
+46 (0)70 762 00 83
Kinnevik was founded in 1936 and thus embodies more than seventy years of
entrepreneurship under the same group of principal owners. Kinnevik's objective
is to increase shareholder value, primarily through net asset value growth. The
company's holdings of growth companies are focused around seven comprehensive
business sectors; Paper & Packaging, Telecom & Services, Media, Online,
Microfinancing and Renewable energy. Kinnevik has a long history of investing in
emerging markets which has resulted in a considerable exposure to consumer
sectors in these markets. Kinnevik plays an active role on the Boards of its
holdings.
The Kinnevik's class A and class B shares are listed on the NASDAQ OMX
Stockholm's list for large cap companies, within the financial and real estate
sector. The ticker codes are KINV A and KINV B.
Press release:
http://hugin.info/1114/R/1523546/459561.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kinnevik via Thomson Reuters ONE
[HUG#1523546]
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2011 - 10:01 Uhr
Sprache: Deutsch
News-ID 55573
Anzahl Zeichen: 2808
contact information:
Town:
STOCKHOLM
Kategorie:
Business News
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