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United Internet acquires equity interest in online listing specialist Uberall
- Approximately 25 percent stake in German market leader for online listings
- Uberall as future technology partner of 1&1
United Internet AG has acquired - via United Internet Ventures AG - a stake of around 25 percent in the online listing specialist Uberall in the course of a capital increase. Uberall will use the new funds mainly for further international expansion.
Based in Berlin, Uberall brings together local companies and customers via the internet. On behalf of its customers, Uberall ensures that companies can be found in all standard directories, online business directories, mobile apps and map services and that all details are consistent. Uberall also promotes improved customer dialogue with the aid of real-time notifications about reviews and enquiries on the affiliated portals.
In addition to the equity stake, United Internet subsidiary 1&1 Internet AG has signed a long-term cooperation agreement with Uberall to use its solutions. As part of this cooperation, 1&1 will use Uberall's cloud technology which offers all online listing functions freelancers and small and medium-sized companies need for successful online operations.
"Together with 1&1, we want to be a leading player in Europe in the field of local listing software. We are delighted about our cooperation with 1&1," explains David Federhen, CEO of Favor.it labs GmbH, which runs Uberall.
"Uberall is Germany's leading product supplier for online listing with the potential to reach a top position in Europe. Its vision, team and technology impressed us. This first-class product will enable our customers to tap a huge market potential," states Dr. Oliver Mauss, Management Board member of United Internet Ventures AG, in his assessment of the investment.
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