About the Client
Based in Vienna, Austria, kununu is the leading employer review platform in German-speaking countries with more than 240,000 company reviews and around 3 million page impressions per month. kununu gives current and former employees the opportunity to rate their employer providing job-seekers with an insight into companies from people who actually work there. Inversely, companies can take out a paid employer branding profile on kununu and use it to showcase their business to prospective job applicants.
About the Deal
GP Bullhound acted as the exclusive financial advisor to kununu GmbH (“kununu”) on its trade sale to XING AG (“XING”). XING is a leading social network for business professionals with more than 12 million members worldwide and over 6 million in German-speaking countries alone. XING will pay up to EUR 9.4 million to exiting shareholders, which include venture capital firm TheMediaLab, angel investors Vinzenz Treytl and Florens Eblinger as well as co-founders Martin and Mark Poreda, who will stay with kununu and continue leading the company’s operations from Vienna.
XING’s acquisition of kununu adds a key dimension to the value chain of its e-Recruiting business. The ensuing joint market approach allows XING and kununu to combine their expertise, range and sales teams, and also position themselves perfectly within the growing social recruiting market.
kununu’s CEO Martin Poreda comments: “We want to bring in a new era for the jobs and careers industry where employer reviews are the new currency of employer branding, and we’re excited to be doing this as part of the XING family. Together we can achieve much more, react more swiftly than before and reach out to more customers. GP Bullhound has been instrumental in reaching out to XING and making this deal happen. We got to know the Berlin team very well over the last year, and their expertise and strong network in the German digital industry has made them the perfect fit for the negotiation and execution of this transaction.”