T-Online snaps up internet networking site

T-Online, the internet business subsidiary of Magyar Telekom, has purchased social networking website iWiW for €3 million, or just over Ft 750 million. The site now has more than 500,000 users, who visit the site on near-daily basis. iWiW has recently been facing the problem of its capacity not meeting soaring demand, Népszabadság comments.

The purchase price is surprisingly low, because the price of news portal index origo.hu, also owned by Magyar Telekom, was Ft 1.6 billion despite having no more users than iWiW does at present, Népszabadság adds. iWiW was launched in Hungary in the spring of 2002 and was renewed and expanded to numerous languages last autumn. According to Webaudit, the site has 400,000 daily visitors and is the fourth most popular site in Hungary, being especially fashionable amongst young persons and Budapest inhabitants

T-Online will keep privacy agreements concerning personal data, CEO of iWiW Márton Szabó said in response to concerns of users about giving their details to the largest internet service provider in Hungary.

The above story is just one of more than two dozen published today by Hungary Around the Clock, the most comprehensive source of daily English-language news about Hungary. For a free trial of HATC, click here. Hungarian news sources include Népszabadság; Magyar Hírlap; Világgazdaság; Napi Gazdaság; Magyar Nemzet; Népszava; Kossuth Rádió news and Hungarian television's nightly news broadcast.

• Email
• Save to My Caboodle