Wirtualna Polska purchased a 100% stake in Mediapop. The deal is worth at least PLN 28 million. Over the course of the last three months, Wirtualna Polska Holding has spent over PLN 580 million on acquisitions.
Mediapop runs such websites as Pysznosci.pl, Genialne.pl, Jastrzabpost.pl and Popularne.pl, which, according to Mediapanel’s October 2022 survey, reach over 12 million Poles. Mediapop’s social media profiles are followed by over 17 million users. Mediapop employs over 40 staff. The company’s adjusted revenue for the last 12 months ended in June 2022 totaled PLN 6.8 million, while its adjusted EBITDA was PLN 3.1 million. This means a rate of growth of 82% and 201%, respectively, compared to the corresponding period of last year.
"The transaction is yet another acquisition of Wirtualna Polska Holding carried out in pursuit of solidifying our position in the media sector. These days, website users regularly access an increasing number of sources, such as social media and SEOs. For this reason, the acquisition of traffic from external sources plays a pivotal role in our growth strategy," says Joanna Pawlak, Vice-President of Wirtualna Polska Holding S.A.
"When I established Mediapop 8 years ago, there was no doubt in my mind that the Internet would become the leading medium in the future. Since then, Mediapop has grown to be the largest independent online publishing house in Poland. We have built brands that today not only rank at the top of their respective categories, but also set trends across the online landscape and social media. We are selling the company at the time of its best performance ever, both in financial terms and considering its online reach. I am sure that our transaction with Wirtualna Polska, Poland’s leading media group, is not only going to strengthen the position of our websites, but also provide a stimulus for continued rapid growth and realization of the company’s full potential by tapping into the resources and business experience of its new owner," says Agnieszka Jastrzębska, co-founder and President of Mediapop sp. z o.o.
"Through our commitment to the growth of Mediapop, we have built the largest publishing house in Poland’s social media sector over the course of several years. Along with more than 12 million real users of our websites, the company’s position in the market brings to the table a perfect opportunity for synergies arising from this acquisition. By adding Mediapop’s ranges to its portfolio, WP will significantly outrun its competition, also in social media," says Damian Defratyka, another co-founder of Mediapop sp. z o.o.
Wirtualna Polska is purchasing the stake in Mediapop sp. z o.o. from LKN Wealth Capital Investors. The deal is initially valued at PLN 28 million. The price may be augmented by an additional fee of up to PLN 9 million provided that certain specific business objectives described in the share purchase agreement are fulfilled.
"Upon closing the acquisition, we intend to continue working with the Mediapop team and benefit from its members’ extensive experience in creating and positioning brands in social media. This will enable us to strengthen the profiles of Wirtualna Polska’s existing websites in this respect. Moreover, the acquisition will enable us to build a strong culinary brand based on the Pyszności website," says Kamil Karnowski, Director of Publishing Growth at Wirtualna Polska Media S.A.
The transaction marked another major recent investment of Wirtualna Polska Holding. Earlier, in August, the company purchased a 40% stake in Patronite, Poland’s largest website connecting creators with patrons. At the beginning of September, the company acquired the Szallas Group, the operator of the largest national travel websites enabling accommodation bookings in Hungary, the Czech Republic, Romania, Poland and Croatia, for EUR 83 million. Then, WP purchased a 100% stake in Benchmark.pl, one of the leading Polish websites on computers, new technologies, video games and electronic equipment. Also in September, Wirtualna Polska became the majority shareholder of Audioteka S.A., one of the most recognizable and largest audiobook websites operating in Poland, Germany, the Czech Republic, Lithuania and other countries. WP now holds an approx. 60% stake in the company. The deal was worth PLN 95 million. In October, for nearly PLN 33 million, Wirtualna Polska purchased an approximately 44.5% stake in Selsey, one of the leading online stores in Poland selling home and garden products. In total, over the course of the last three months, Wirtualna Polska Holding has spent over PLN 580 million on acquisitions.