Walla! Sells Yad2 to Axel Springer Digital Classifieds for $228m

NOAH Advisors acts as exclusive sell-side advisor to Bezeq, Walla! And Yad2 in the sale of Israel’s leading classifieds website

NOAH Advisors Completed Transaction Yad2

Deal Team

Walla!:
Ilan Yeshua, CEO (Chairman Yad2)
Gil Benyamini, CFO
Yad2:
Yavin Gill-More, CEO
Ariel Kessel, CFO
NOAH Advisors:
Marco Rodzynek, Jan Brandes,
Nikhil Parmar, Marija Sevcenko

Transaction Summary

  • On 6 May 2014, Walla!, Israel’s leading portal and fully owned subsidiary of telecommunications giant Bezeq, sold 100% of the shares in Coral-Tell Ltd, operator of the leading classifieds and advertising portal Yad2 (Yad2.co.il) to Axel Springer Digital Classifieds (ASDC) for USD 228 million in an all-cash transaction
  • Bezeq and Walla! will use the proceeds to invest in strategic growth areas and de-leverage
  • Yad2 will join ASDC’s portfolio of leading online classifieds brands which include SeLoger, StepStone and Immonet among others

Overview of Yad2

  • Yad2 (Yad2.co.il) is the leading classifieds and advertising portal in Israel, with local brand awareness of almost 100%, built through wide presence across TV, radio, print, online and large scale fairs
  • Around 10,000 new ads are placed on the site daily from the strong user base of 3.8 million monthly unique visitors
  • Yad2 became the dominant brand in Israeli classifieds across its broad offering in real-estate, vehicles, second hand goods and more, despite having just been founded in 2005 by serial entrepreneur Shone Tell
  • Yad2 solidified its market leadership under the ownership of Walla! Communications, which acquired 75% in July 2010 and the remainder in November 2013
  • The Tel Aviv based company has around 100 employees and is run by a strong management team under the leadership of CEO Yavin Gill-More and Chairman Ilan Yeshua

NOAH Advisors’ Role

  • NOAH Advisors acted as exclusive financial advisor to Yad2 and its shareholders, exploring options with a number of strategic and financial investors
  • Yad2 has been a close relationship of NOAH Advisors for over 2 years and presented as one of the “Rising Stars” at the NOAH Conference 2012
  • A steadfast execution was facilitated based on in-depth knowledge of the company, the industry, and intelligence around the best potential acquirers