WAYN being bought for $200m?

Published: 17 Jan 2008

According to uk.techcrunch.com, "three well-placed sources have all independently quoted the $200m figure" and "named AOL as the prospective buyer".

The author the report shared: "In a phone call tonight Anika Erskine, WAYN's marketing manager, told me: "We are absolutely not for sale. We're not considering it at the moment. We're excited about what we've done and the partnerships we've signed. We've just launched a new version of our travel guides, with tonnes of content and new services. We're very much pushing down that route - cutting edge mobile services, UK focused and rolling out across other countries."

"But the fact that no deal has been announced yet is put down by my sources to delicate negotiations around a generous earn-out clause proposed by the founders. And the signs are that this is proving to be a sticking point in negotiations. The site is only on course to bring in $4.5m of revenues this year, a figure which contrasts markedly with the exit price."

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