The deal of the year in Romanian online media

Alina Apetrei, Claudiu Vrinceanu, 20 Nov 2009

Romanian version

A year and a half on since eJobs – Tiger Global Management deal, the online industry in Romania is once again under the spotlight. József Kövér, partner at 3TS Capital Partners, along with InternetCorp’s CEO and Liviu Dumitrascu, founder of eJobs and InternetCorp provided their views on the deal, along with behind-the-scenes account of how the agreement was reached in an interview to Wall-Street.

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Second exit for eJobs founders

The deal marks the second exit made by Liviu Dumitrascu and Daniel Tatar, by selling minority interests in their own businesses, in the midst of economic boom and downturn.

“We’re moving into the fifth year of talks (in 2006 we initiated negotiations for eJobs) with investment funds (US or European), or large companies, possible strategic investors. My partners’ work and mine was centered around three focal points: value-generation strategy 110% focused on each asset category; 2. building shareholders value, and 3. permanent talks with possible new partners interested in our assets,” said Liviu Dumitrascu, one of the three founders of InternetCorp.

By contrast, Liviu Dumitrascu says eJobs and InternetCorp represent different assets, different products that generate different value. “The cycle of value generation is completely different, quarterly balance is different. I can only say that I am confident that both types of assets can build shareholders value within 5-6 years. I expect it to be a challenging period. We will be more focused, more determined, wiser to keep our leading position in the market segments where we are present”.

He stressed the spectacular growth of InternetCorp over the past few years could be attributed solely to Mihai Seceleanu, partner and CEO of the company and to InternetCorp team. “He deserves all the credit. Few teams are as motivated, as focused, as connected as IC’s”.

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The deal of the year in Romanian online media

Second exit for eJobs founders

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