HomeGermany-StartupsGerman penny-auction-site Swoopo experiences 3% decline in sales in 2009

German penny-auction-site Swoopo experiences 3% decline in sales in 2009

Swoopo, one of the biggest penny-auction-sites on the internet, just published it’s financial figures for 2009 (Update – December 2022: The startup seems to be no longer in business and we therefore deactivated the link).

The gross sales of this German-based entertainment and shopping company reached €18.5 million over the last year. Compared to 2008, this figure means a decline of 3%. After taxes the company has earned a net profit of €0.7 million.

This year Swoopo withdrew their operations and activity from Korea, and there have also been rumors of layoffs for the company.

By the way: If you’re interested in German startups, you can check out all our articles on funding rounds, acquisitions and more here!

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).
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