A significant digital contender, Catena Media, recently acquired Squawka, a struggling soccer and fantasy athletics website. The price tag? A tidy £1 million (approximately $1.3 million) in initial payment.
However, there’s more. Catena Media projects Squawka to generate a substantial €200 million (roughly $215 million) annually, boasting a profit margin of around 60%. Consider this: Squawka commands a vast viewership of 4 million monthly visitors and almost 800,000 Twitter devotees – a veritable treasure trove waiting to be unearthed!
Currently, Squawka depends entirely on display advertisements for income, a strategy that has proven less than fruitful as of late. They’ve been transparent about their financial woes and even willingly entered administration.
Catena Media intends to incorporate Squawka’s four-person staff into their London headquarters once the transaction is finalized. This marks Catena Media’s second purchase this month – what a spending spree!
Henrik Persson Ekdahl, Catena Media’s interim CEO, views Squawka as an avenue to broaden their presence in the soccer realm, particularly with several major sporting competitions on the horizon. They’re especially keen on Squawka’s automated data gathering and accessible visuals, which they aim to merge with their existing offerings.
