Polish Reddit sold

Polish online auction website Allegro sold Wykop to Garvas B.V. real estate fund for around PLN 5 million, Puls Biznesu daily reported. Dutch Garvars B.V. was one of Wykop’s investors and sold its shares in 2012. The main shareholder of the fund, Arjan Bakker was one of Allegro’s founders. "There is demand for Wykop, and it makes us happy. We want to be a fresh startup website ... and search for new users," Michał Białek, the firm’s board member said. Wykop’s annual income totals PLN 1.5 million and its profit is around PLN 0.3 million. As for today, the website has 5.2 million users, the number grew by 21 percent y/y. One of the website’s most active users is Poland’s former president, Lech Wałesa. The company is a current leader of social news services in Europe as other websites have disappeared from the market. Allegro is owned by South Africa’s media group Naspres.