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CMS advises Absolventa on FUNKE sale

Berlin-based Absolventa GmbH, a jobs portal with around 50 employees that attracts in excess of 1.1 million visitors per mont, is being sold to the FUNKE media group of Essen. 

Absolventa is notable for its outstanding mobile usability, user-friendliness and the perfect fit of the jobs displayed. These factors help to explain the portal’s high level of customer loyalty and very high recommendation rates.

A team headed by lead partner Dr Jörg Zätzsch and Dr Igor Stenzel advised the Absolventa shareholders on the sale. 

Zätzsch says: “Following numerous sales of Berlin-based start-ups in 2014, this deal is further proof that the exit strategy of selling to a strategic investor such as the FUNKE media group currently works very well. This is a very encouraging sign for the Berlin start-up scene.” 

Zätzsch, Nobiling and Dr Igor Stenzel previously advised on the sale of Sociomantic to Dunnhumby Ltd. in 2014, thereby providing legal support on all aspects of one of the biggest exits in Berlin up to that time.

The FUNKE media group is an Essen-based corporate group with a particularly strong market position in the regional media sector (with publications such as WAZ, NRZ and Hamburger Abendblatt) which recently boosted its exposure to the online jobs market through the acquisition of regional job portal “joblocal”. The acquisition of Absolventa further extends that presence.

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