2014-01-10 22:22:40 - Kolektiva Group, which comprises the e- commerce platforms of German venture investor Rebate Networks, is merging with Zumzi, the online trade portal group of Neogen SA a leading internet business in the region. This merger creates a leading company for e-commerce websites in Central and Eastern Europe and is consolidating the market.
Berlin / Bucharest, 10 January 2014 –
With the transaction, the American private equity company Tiger Global will become an indirect shareholder in the merged enterprise company. Călin Fusu, co-founder and currently CEO of Neogen, will lead the merged enterprise. Rebate Networks continues to remain a major shareholder.
The Kolektiva Group offers local online trade websites in Hungary, Romania, Croatia, Slovenia, Serbia, Macedonia as well as in Bulgaria. In total, the group generated in the fiscal year 2013 revenues of about 20 million euros and has about 2 million users. The start-up Zumzi’s portals are available in Romania, Moldavia, Serbia and Bulgaria with about one million customers. Revenues amounted to about 6 million euros in 2013.
“Both groups are geographically an ideal
fit. The market still has enormous growth potential which we want to realize with a strong player in the region. By putting the two businesses together, we are building a viable platform for local businesses across the region“, said Călin Fusu, CEO of Neogen.
“I am very happy that we found in Zumzi and Neogen great and successful partners for our eastern European companies”, stated Heissam Hartmann, Vice President CEE of Rebate Networks.
“The merger in Eastern Europe is another milestone in the global growth strategy for our e- commerce businesses in the emerging markets. For more than three years, Rebate Networks has built up web platforms in the world’s growth markets especially in Asia and Eastern Europe and has thereby significantly shaped the online trade business in these countries”, said Michael Brehm, Managing Director of Rebate Networks.
About Rebate Networks GmbH
The German venture investor Rebate Networks was founded 2010 by Managing Director Michael Brehm. The company’s strategic focus was on building and expanding local e-commerce platforms in emerging markets. Today, Rebate Networks is one of the leading networks of online trade portals in the world’s growth markets. After a number of successful exits, Rebate is still active in 15 countries. Particularly in Asia and Eastern Europe several market leaders belong in the investor’s
portfolio. Rebate Networks has an in-depth expertise in founding and building-out start up companies. Moreover it has specific knowhow and experience in the e-commerce market. Rebate Networks‘ headquarter is in Berlin. www.rebatenetworks.com
About Neogen SA
Neogen is one of the biggest online companies in Romania and one of the leading internet businesses in Central and Eastern Europe. Launched in 2000, Neogen has grown exponentially and is now running businesses in Romania, Bulgaria, Serbia and Moldavia. www.neogen.biz.