Webrazzi, the leading media headline for tech startups in Turkey, acquired Tech.eu, the site of long-standing technology start-ups in Europe. The joint entity of Webrazzi and Tech.eu will now offer combined editorial, data and research platforms providing market intelligence and insight. Terms of the deal were not disclosed.
Launched in 2006 by Arda Kutsal, Webrazzi reaches 1.25 million readers per month (15 million per year) and will now extend its European and English reach with the acquisition of Tech.eu.
Tech.eu was started in 2013 by the former editor of TechCrunch Robin wauters, and has since become one of, now several, destinations for European news on tech startups and innovation. However, it has been faced with growing competition from a number of other European-oriented outlets such as EU start-ups, Silicon channels, and the Financial Times supported Sifted.eu. (TechCrunch’s European office began coverage in 2006).
Tech.eu investors included 500 startups, Adeo Ressi (The Founder Institute), Roxanne Varza (Station F), Daniel Waterhouse (Balderton) and Carlos Eduardo Espinal (Seedcamp).
Wauters explained that part of the motivation to sell came from the desire to have your own technology stack, a custom CMS, bespoke software for managing native ad campaigns, and a platform. events, available to Webrazzi.
Arda Kutsal, Founder and CEO of Webrazzi, said: “We are delighted to expand further in Europe by acquiring Tech.eu, which we have considered to be the best source of technology news and market data for many years. We are in awe of the team’s accomplishments to date, as well as their strong plans for the future, and we look forward to working with them to turn them into reality.
Robin Wauters, Editor and CEO of Tech.eu, said: “I have long admired what Arda and her team have built, and I am delighted to bring the knowledge and experience we have gained. by creating Tech.eu as a team to the Webrazzi family and see how far we can go further with our combined editorial platforms. Europe’s tech ecosystems are evolving at an incredible rate, and we look forward to continuing to cover and analyze their future ins and outs under the umbrella of Webrazzi. I expect it to be more hard work and more fun! “
On a call with me, he added: “We weren’t really looking for anyone to sell to, but Arda was in contact with us from 2014 when he wanted to invest in our Seed cycle. It didn’t happen, but we stayed in touch, discussing each other’s business, and one thing led to another, as they say.
“We didn’t have a great sales team so it’s always very difficult for us to compete. What they bring to the table is, of course, a team of 25 that we can immediately tap into, so that was music to my ears because it’s a very, very strong competition not only on the media side but also on the data and events side. This acquisition means more ability to accelerate what we want to do, ”he added.
Had he found the European media landscape to be increasingly competitive?
“I think the competition is just normal. If you look at how the European tech ecosystem itself has grown and matured, then there will be multiple releases. I think we were early, maybe even a little too early. But we did it in the early years, when it was still relatively small. But it’s matured to a point where a single post, I think, can’t do it justice anymore, so it’s only fitting that there are several, ”he said.
I asked if his investors were pushing for an exit: “We raised about seven years ago, that’s it, so it’s not like we’re in constant contact with our investors the same way we are. a VC would be with the companies in their portfolio. It was more like a group of angels who supported us at the start. No one was really pushing for a sale because it’s not like we’re looking to sell. Not even myself.
During a call, Kutsal told me, “This is exciting. We’ve been working on it for eight or nine months and the pandemic made it difficult, but we managed to sign everything. I always wanted to expand to different parts of Europe and at the end of 2020 I called Robin.
He said Webrazzi’s tech stack was a major factor in the deal: “We have so much technology. We have our own CMS content management system, an online events platform, our own native advertising solutions, and everything. At one point I realized that Robin has a great team but no clean tech so that was a major factor in the deal.
He said the merged entity now plans to expand further into Europe, possibly Russia, and the MENA region.