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 Drushim

Deal Team

Ilan Yeshua, CEO (Chairman Yad2)
Gil Benyamini, CFO
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