Sedo Sells Remaining 24% Ownership To Parent Company AdLink
Sedo.com is a website where people can sell their domain names. AdLINK Group, the parent company behind Sedo purchased the 24.06% remaining shares in Sedo recently. Those shares were purchased for 5.5 million Euros and 4.25 million shares of AdLINK stock. Based on the valuation of AdLINK’s stock and the cash given for the remaining shares, that puts Sedo at a $130 million valuation.
Tim Schumacher, a Managing Director at Sedo will become the CEO of AdLINK as a result of the acquisition. AdLINK also plans to change their name in 2010. AdLINK’s revenues for the first half of 2009 was 102.1 million Euros. This was a 10.3% drop from the previous year during the same time period. Sedo also saw a drop in revenues due to less domain names being submitted. However Sedo’s number of registered users grew to 894,000.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry