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Schibsted Media Group is an international media group. The company has its headquarters in Oslo, Norway, and is listed on the Oslo Stock Exchange. The CEO is Kristin Skogen Lund.

Schibsted ASA
Allmennaksjeselskap
Traded asOSE: SCH
ISINNO0003028904 Edit this on Wikidata
IndustryMass media
Founded1839; 180 years ago (1839)
HeadquartersOslo, Norway
Key people
Kristin Skogen Lund (CEO), Ole Jacob Sunde (Chairman)
RevenueNOK 16,9 billion (2017)
OwnersForeign banks
Government Pension Fund of Norway
NWT Media AS
Others[1]
Number of employees
5000
SubsidiariesTrader Media East
Websitewww.schibsted.com

In 1839,[2] Christian Michael Schibsted founded the Schibsted Publishing House, which went on to become the largest media group in Scandinavia.[3] The group ventured into online classifieds in 2000 and expanded its portfolio of leading Marketplaces across the globe. In September 2018, Schibsted Media Group announced that it would reorganize into two growth companies : Schibsted and what is now called Adevinta, a group of market place operations outside the Nordics. Schibsted is organised in three main divisions: News Media, Nordic Marketplaces and Next.

Key datesEdit

1839: Christian Michael Schibsted founded Schibsted Forlag; publishing company

1860: Foundation of Aftenposten

1966: Acquisition of VG

1989: Schibsted was converted from a family enterprise into a corporation

1992: Listing of Schibsted on the Oslo Stock Exchange[4]

1995: Launch of Schibsted Nett

1996: Acquisition of Aftonbladet[5]

2000: Launch of Finn.no, a Norwegian classified advertisements website

2003: Schibsted acquires Blocket.se, Sweden online classified adds start-up

2005: Acquisition of Hitta.se

2006: Acquisition of Trader Media Group's online classifieds business in France, Spain, Italy and Latin America, and incorporation of Schibsted Classified Media (SCM)

2006: Launch of Leboncoin (France)

2010: Acquisition of Lendo.io

2013: Acquisition of full ownership in Leboncoin (France)

2014: Establishment of joint venture partnerships with Telenor in Latin America and selected Asian markets

2014: Establishment of four joint ventures in Brazil, Bangladesh, Thailand and Indonesia with Telenor, Singapore Press Holding and Naspers (Singapore Press Holding only participates in the joint ventures in the two latter countries)

2015: Acquisition of Milanuncios (Spain) and Avito (Morocco)

2016: Acquisition of Naspers operations in Hungary

2016: Sale of operations in Romania

2017: Acquisition of Bynk and Hypoteket

2017: Increase of ownership in OLX (Brazil) from 25% to 50%

2017: Acquisition of full ownership in YAPO (Chile)

2018: Acquisition of A Vendre A Louer (France) and Habitaclia (Spain) Incorporation of MPI ASA

HistoryEdit

Founded in 1839, Schibsted has 180 years of track record as an innovative, forward-leaning and consumer-oriented company. Originally a company operating a printing press for book and newspaper publishers, Schibsted gradually integrated vertically, also taking the publisher role. By the time of its IPO in 1992, Schibsted was the largest newspaper company in Norway. The IPO represented the beginning of a more expansionary strategy.

Throughout the 1990s and early 2000s, Schibsted consolidated its position within the Norwegian newspaper industry, by way of acquiring subscription and casual sales newspapers in Sweden and the Baltics, establishing free-sheet newspapers in various continental European cities, moving into production and distribution of TV and movie content, and funding the start-up of Nordic commercial TV stations. During this period, Schibsted also realized the potential in the digital transformation and started testing and investing in new online business models, establishing itself as an internet pioneer. These efforts included digitization of the newspaper business, experimenting early on with online business models based on editorial content, which has contributed to the current situation where Schibsted’s primary online news destinations (VG in Norway and Aftonbladet in Sweden) in 2017 ranked number 1 in both Norway and Sweden.[6]

With the establishment of the online classifieds site Finn.no in Norway in 2000, Schibsted intentionally cannibalized an important revenue source for its newspapers. Based on the strong operational development of the site, Schibsted continued investing in developing Finn also after the “dot com”-bubble burst. Motivated by the strong development in Finn, Schibsted continued its transformational journey by conducting bold acquisitions internationally. Swedish Blocket was acquired in 2003, and in 2006 Schibsted acquired Trader Classified Media with classifieds operations, in amongst other, Spain, Italy and Latin America.

Gradually, Schibsted also entered new geographic markets (such as France[7]) by launching classifieds sites organically. The internationalization of the classifieds business model, which at first focused on quickly developing a footprint in new markets, and later focused on in-market consolidation in the most successful geographies, has in the past decade been Schibsted's main business development priority. At the same time, Schibsted has also made select moves into other areas where Schibsted could leverage on deep market understanding and marketing power to create new success models. The fintech company Lendo (acquired in 2009), as well as price comparison service Prisjakt (acquired in 2006), have received increasing attention over the last few years as successful examples of such investments. The successful moves into adjacencies have been made possible by a strong emphasis on capital re-allocation. To this end, Schibsted has divested numerous assets to free up capital (such as the IPO of Scandinavia Online in 2000, the exit of linear TV and TV/Film production in the period from 2006 to 2009, the sale of Basefarm in 2009, the sale of numerous real estate assets, the sale of Hitta in 2017), and has createsd Schibsted Growth to handle its portfolio of corporate venture investments.

In 2018, Schibsted's Board of Directors proposed to spin off[8][9] the international marketplaces operation into a separate listed company called Adevinta[10] with its own dedicated management and Board of Directors. Adevinta listed on the Oslo Stock Exchange on 9 April 2019.[11][12][13][14][15][16] It was Norway's most valuable new listing since 2006.[17] The spin-off represented an important strategic step for both Schibsted and Adevinta,[18] as it allowed the two new entities to each set out their own strategic directions. Schibsted continues its strategic and operational synergies across the Nordics, while Adevinta predominantly extracts synergies through shared product development and a joint go-to-market approach.

Today's Schibsted comprises (1) leading news destinations in the Nordics; (2) the leading marketplaces operations in the Nordics; (3) high-growth fintech and price comparison services; and (4) a professional corporate venture capital operation (including early-stage investments).

ReferencesEdit

  1. ^ Proff.no - as of April 2016
  2. ^ "Schibsted Publishing House established". Schibsted. Retrieved 2019-07-31.
  3. ^ "Schibsted: A global player in media business from Norway | M. Fischer". ResearchGate. Retrieved 2019-07-31.
  4. ^ "Markedsaktivitet". www.oslobors.no. Retrieved 2019-07-31.
  5. ^ "Schibsted acquires Aftonbladet". Schibsted. Retrieved 2019-07-31.
  6. ^ "The largest publishers in Norway and Sweden unite product and tech to forge the future of journalism - Schibsted". 80.91.34.85. Retrieved 2019-07-31.
  7. ^ "Leboncoin désormais contrôlé par Adevinta". FIGARO. 2019-02-25. Retrieved 2019-07-31.
  8. ^ "Media group Schibsted bets on online ads spin-off". Reuters. 2019-03-07. Retrieved 2019-07-31.
  9. ^ "Schibsted crée Adevinta, une entreprise dédiée qui héberge ses marketplaces, dont leboncoin | Offremedia". www.offremedia.com (in French). Retrieved 2019-07-31.
  10. ^ "Marketplace International gets its permanent name | AIM Group". aimgroup.com. Retrieved 2019-07-31.
  11. ^ "Adevinta completes more than $6 billion IPO, Norway's largest in 13..." Reuters. 2019-04-10. Retrieved 2019-07-31.
  12. ^ "La maison mère de Leboncoin, « une pépite que l'on introduit en Bourse »". Les Echos (in French). 2019-04-10. Retrieved 2019-07-31.
  13. ^ ASA, Adevinta (2019-04-10). "Adevinta announces successful listing on Oslo Børs". GlobeNewswire News Room. Retrieved 2019-07-31.
  14. ^ Bourse, Zone. "Adevinta a bouclé son IPO de plus de 5,5 milliards d'euros | Zone bourse". www.zonebourse.com (in French). Retrieved 2019-07-31.
  15. ^ "Adevinta a bouclé son IPO de plus de 5,5 milliards - Actualités Corporate". L'AGEFI (in French). 2019-04-09. Retrieved 2019-07-31.
  16. ^ "Adevinta (LeBonCoin) atteint les 6 milliards d'euros de valorisation". FrenchWeb.fr (in French). 2019-04-11. Retrieved 2019-07-31.
  17. ^ "Online ad firm Adevinta up 13 percent in Oslo's most valuable IPO..." Reuters. 2019-04-10. Retrieved 2019-07-31.
  18. ^ "[DECODE] Quelle perspective pour LeBonCoin après son introduction en Bourse?". FrenchWeb.fr (in French). 2019-04-08. Retrieved 2019-07-31.

External linksEdit