Eastern Europe Search Engine Seznam May Sell For Over $900 Million
Seznam is the leading search engine in Czech. Seznam has 62% search engine market-share in Czech and Google has 29%. Rumor has it that Seznam is searching for a buyer. Google Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) are in the list of speculative buyers. Other speculative buyers include private equity firms, Warburg Pincus and Apax Partners. Goldman Sachs Group, Inc. (NYSE:GS) is helping Seznam shop for a buyer.
Private equity firms, Tiger Holding Four and Miura International currently own 30% of Seznam. These two firms bought ownership in Seznam from Lycos Europe for $91 million. This gave Seznam a valuation of $300 million in April 2007.
Seznam had about 4.4 million uniques per month as of May 2008. Seznam expects to make 1.4 billion Czech korunas ($84 million) in revenues this year. Seznam started in 1996 by Ivo Luka?ovi?.
According to the Quintura blog, if this deal goes through, it will be the largest Internet acquisition in Eastern Europe.