Last Lap for Markafoni’s New Round Investment

We have been hearing that there are negotiations going on for Turkey’s most popular private shopping club Markafoni‘s new round investment, even a sale as a whole or in lots, among leading companies worldwide. Recently, we have been hearing about this more and more.

We have also heard that Markafoni has been in touch with Otto Group, the owner company of also limango, and South Africa based media company Naspers, in addition to leading investment companies worldwide.

Otto Group had already negotiated with Sina Afra, co-founder and current CEO of Markafoni before acquiring limango, but then bought Germany based limango and entered Turkey market. A few months ago the negotiations picked up the pace, but what we also heard is that negotiations between Markafoni and Otto have not been finalized yet.

However, five different sources have told us about Naspers that the company is about to acquire large amount of shares of Markafoni. Even one of our sources has told that Naspers might have agreed to but majority shares of Markafoni.

Markafoni’s valuation is 200 million dollars!

When we received these hearsay information about the issue, one of sources that is close to the both companies said that Markafoni’s valuation is negotiated as 200 million dollars now. If this investment is realized, Markafoni will have received the 2. highest valuated investment, following GittiGidiyor’s 215 million dollars valuation in Turkey internet market.

We guess that Markafoni has closed the year 2010 with a turnover of nearly 60 million TRY in Turkey, so this valuation seems very proper and at a good level.

Will Naspers do the investment alone, or will it be under the partnership of Naspers and Traya?

Here it will be useful to remind you that Markafoni’s investors Trayas, which invests only in shopping clubs exclusively and founded by Oliver Jung and Klaus Hommels, and South African Naspers, made an investment of 17 million dollars in Brazil based BrandsClub. This investment was largely afforded by Naspers. In fact it is highly probably for Naspers and Markafoni to strengthen their “strings” with such an investment.

On the other hand, Trayas and Naspers might realize this investment together, as they did for BrandsClub, similarly one of our sources gave us additional information confirming this possibility.

Will Markafoni receive an investment, or will it be sold based on earn-out model?

On Naspers’ investment for Markafoni, we have received similar information from sources, but there are various investment models as far as we can see. For the time being, we cannot know for sure if this is going to be an investment with 200 million dollars valuation, or sales with earn-out model. But as our sources tell us, and in my own opinion, it is likely to be an earn-out model which will bring a model that will start as an investment, then give the investors the right to own Markafoni’s entire shares in the long term.

Will Markafoni be a new milestone for Turkey’s Internet market?

Markafoni is the most popular private shopping club in Turkey at the moment. The company has a considerable success story, and has recently globalized and started to operate in various countries.

Markafoni is already in the radar of global investment companies and e-trading groups with the support of its international investors, and I believe that it will be the object of an important sales news and be one of the major milestones of Turkey’s Internet market.

The company has really sped up its growth, and if you ask me, it is the right time for a large scale investment or acquisition.

As we do not have clear info on Markafoni’s new investment, we cannot make the right comment on the issue. I called Sina Afra to confirm the hearsay, but could not reach him. I guess we’ll receive some precise information on the issue.

We will be updating the news and share any details with you on the issue.

Original Post: Markafoni’nin Yeni Tur Yatırımı İçin Son Düzlüğe Girildi

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