Yell Acquires Moonfruit for £18 million ($29m).
We love to celebrate female heroes, so we are delighted to report that Yell, a leading provider of digital services, yesterday announced its acquisition of Moonfruit, the UK’s leading DIY website and online shop builder, founded by Wendy Tan-White. The total cash consideration for the acquisition is approximately £18 million ($29m).
Moonfruit’s website Moonfruit.com was launched in the UK in 2000 with a mission to make the web easily accessible for local businesses and consumers. When a customer builds a Moonfruit site, with a click of a button they can add a commerce option, a mobile presence and build a Facebook store, all from the same platform.
Nearly five million websites and 230,000 online shops, mainly in the UK and US, have been created using Moonfruit.com technology.
Updated HTML5 versions of their sites that build on their existing HTML5 mobile and Facebook versions will be launched later this year.
Yell is acquiring Moonfruit’s innovative technology as well as its high calibre technical and design teams. Moonfruit.com will remain a sub-brand. Moonfruit co-founders Chief Executive Officer Wendy Tan-White, Chief Operating Officer Joe White and Chief Technology Officer Eirik Pettersen will take senior roles in Yell Group. Wendy Tan-White and Joe White will report directly to Scott Moore, who joined Yell last December in the new global role of Chief Digital Officer. Scott was previously Partner and Executive Producer at MSN, having held senior roles at Yahoo! and Microsoft businesses.
Wendy Tan-White, Founder and Chief Executive Officer of Moonfruit, said: “We built Moonfruit to make it easy to publish and sell on the internet, and provide stylish web, blog and shop designs as well as easy-to-use web tools for SMEs. Joining Yell and integrating with its local eMarketplace provides access to larger audiences and additional resource to accelerate what is a common vision for the future.”
Moonfruit took £1.57 million in funding in 2010 from investors Stephens(US) and Silicon Valley based angels – Dave McClure 500 Startups, Robbie Van-Adibe and Theorem.
Click here to read our most recent interview with Wendy Tan-White.
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