Published: 2023-09-17
Ingatlan.com Plc., a Hungarian property buy and sell website, has made a groundbreaking acquisition in the Hungarian e-commerce sector. They have acquired two flagship websites, Használtautó.hu and Jófogás.hu, which is expected to significantly change the business sector.
Ingatlan.com's acquisition
Ingatlan.com Plc. has acquired the operator of Használtautó.hu and Jófogás.hu, the Adevinta Classified Media Hungary Ltd. Használtautó.hu is a second-hand and showroom car buy and sell website, while Jófogás.hu offers a wide range of products for sale, including real estate and cars. The acquisition was not disclosed in terms of the buying price, but it is expected to have a major impact on the Hungarian e-commerce sector.
New control centers
Following the acquisition, the new business will have two control centers. One will oversee Használtautó.hu and Autónavigátor.hu, while the other will be responsible for Jófogás.hu and Vatera.hu. This shift in control and ownership is part of the larger changes happening in the e-commerce sector in Hungary.
Support from the Baross Gábor Reindustrialisation Program
Ingatlan.com stated that the acquisition was supported by the Baross Gábor Reindustrialisation Program, a state program that provided the company with a low-interest loan. This support from the government highlights the significance of the acquisition and the potential it holds for driving development in the domestic e-commerce sector.
Changing trends in the e-commerce sector
Traditionally, Hungarian companies in the e-commerce sector have been acquired by international giants. However, there is a global trend of locally operated websites becoming more successful. The new owners of Használtautó.hu and Jófogás.hu hope that their thorough market knowledge and expertise will create new opportunities for growth and success. This acquisition marks a departure from the previous pattern and showcases the potential of Hungarian companies in the e-commerce sector.
Overall, Ingatlan.com's acquisition of Használtautó.hu and Jófogás.hu is a game-changer for the Hungarian e-commerce sector. It brings together two influential websites under one ownership and has the potential to reshape the industry. With government support and a shifting global trend towards local success, this acquisition opens up new possibilities for development and growth in the Hungarian e-commerce landscape.
Questions & Answers
What companies did Ingatlan.com acquire in the Hungarian e-commerce sector? Ingatlan.com Plc. acquired two flagships in the Hungarian e-commerce sector: Használtautó.hu and Jófogás.hu.
What is Használtautó.hu? Használtautó.hu is a second-hand and showroom car buy and sell website.
What is Jófogás.hu? Jófogás.hu is an e-commerce platform where you can buy almost everything, including real estate and cars.
What was the acquisition supported by? The acquisition was supported by a state program called the Baross Gábor Reindustrialisation Program, which provided Ingatlan.com Plc. with a low-interest loan.
Will there be any significant changes in the Hungarian e-commerce sector due to the acquisition? Yes, the acquisition can trigger a significant change in the Hungarian e-commerce sector as it brings together two major platforms and adds a Hungarian company to the top players in the sector.
How many control centers will the new business have after the acquisition? The new business will have two control centers. One will be responsible for Használtautó.hu and Autónavigátor.hu, and the other will be responsible for Jófogás.hu and Vatera.hu.
Who were the previous operators of Használtautó.hu and Jófogás.hu? The previous operators of Használtautó.hu and Jófogás.hu were Adevinta Classified Media Hungary Ltd.
What is the employee count of Adevinta Hungary? Adevinta Hungary employs 1,300 people.
Were the previous operators profitable? No, the company was not profitable. In 2021, their loss was HUF 39 million, and in 2022, it climbed to HUF 329 million (EUR 860,000).
What is the purpose of the Baross Gábor Reindustrialisation Program? The Baross Gábor Reindustrialisation Program is a state program aimed at supporting businesses and providing low-interest loans to promote industrial development in Hungary.
