Feeds

FriendsReunited in sale talks

Clicks into cash?

Internet Security Threat Report 2014

Reunion website FriendsReunited is in talks which could lead to its sale.

The company is talking to at least five firms about its future.

Michael Murphy, CEO of Friends Reunited said: “Profits are expected to be £6.5 million for 2005 and over £8 million in 06.

“As a result of this performance and the Group’s prospects, we can confirm that the company has recently received a number of credible approaches from large media groups and internet players.

A spokeswoman for the company confirmed it is talking to at least five possible bidders.

Friends Reunited has appointed financial advisors Long Acre to help with negotiations. Talks could lead to an outright sale or the sale of a significant stake in the business.

The site claims 12m members. It was started by Steve and Julie Pankhurst in a spare bedroom in 2000 and quickly became very popular. They still own 30 per cent of the business, which the Times estimates could be worth £120m.

Last year marriage guidance group Relate blamed it, and similar sites, for fuelling divorce by making it easier for people to get in touch with old flames.

The site has become a first stop for journalists seeking background information on the newly-famous. And the police have found it useful too - a man from Teeseide was convicted of drug offences after bragging to old school mates about how much cash he was making selling cocaine.

Alongside its school reunion site the company has opened dating, geneaology and jobs sites.®

Beginner's guide to SSL certificates

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.