Invest Fund 3TS Cisco Growth Buys Minor Stake In InternetCorp

Business newspaper Ziarul Financiar reported last week, citing market sources, that 3TS Cisco Growth bought 25% in InternetCorp, for about EUR2 million.

Contacted by MEDIAFAX, Cristina Nistor, marketing specialist with InternetCorp, said the values could not be currently disclosed but the the information published by Ziarul Financiar are close to reality.

InternetCorp has a portfolio made of 14 websites in business, news and lifestyle sectors. The most popular pages are wall-street.ro, 9am.ro, kudika.ro, yuppy.ro and garbo.ro.

According to company's data, it has over two million monthly unique visitors in the network and an over 10% market share on the e-advertising market in Romania.

InternetCorp was set up in 2005 by Cyprus-based Depracell Limited, Ressaniaco Limited and Arnaka Limited, according to Trade Registry data. Hence, according to Ziarul Financiar, behind these companies there are Romanian businessmen Liviu Dumitrascu, Daniel Tatar, who equally owns e-Jobs website, and Mihai Seceleanu, the company's chief executive.

In 2008, InternetCorp posted a turnover of 6.7 million lei (EUR1=RON4.2811), and a net profit of RON572,000. The company employed 51 people, according to Finance Ministry data.

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