Luca Ascani, chairman of GoAdv, in a statement made it very clear that the decision was driven by the wave of consolidation in the mass-production and distribution of online content and the opportunities that brings for the company he co-founded in 2004:
“GoAdv is experiencing phenomenal growth in the emerging content on demand sector which is fundamentally changing the way content is produced, distributed and monetised online. With the recent acquisition of Associated Content by Yahoo Inc and other consolidation activity, we believe the company will be better positioned for growth and other strategic opportunities as a private entity.
Due to GoAdv’s strong cash position, our delisting will allow us to pursue expansion opportunities while continuing to increase cost efficiencies in our business.“
In short, looks like GoAdv wants to make itself more attractive for potential buyers. Makes sense, as it’s basically a multi-lingual, Europe-focused rival to the likes of Demand Media, Associated Content and AOL’s Seed.com.
Either one of those, or other Web giants, could potentially be interested in buying them out – which is a tad easier when they are not publicly listed. We’re told GoAdv is still looking for more acquisitions and other means of expansion in the near future, however.
GoAdv says its network of over 500 properties, which includes Excite Europe (acquired from Ask.com in 2007), BetterDeals, Nanopublishing and Blogosfere, currently reaches over 20 million unique users per month. The company produces content in 8 different languages, supported by a staff of 140 employees located in offices around the world.
Revenues have jumped from €10 million in 2006 to €42 million in 2009, GoAdv adds, and there’s about €20 million in funds left in the bank (the company recently raised more than €11 million in financing after completing a Convertible Bond Issue with several investors in France).
To be continued, no doubt.