Feeds

FriendsReunited in sale talks

Clicks into cash?

Intelligent flash storage arrays

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.®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.