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!
[…] the Munich (Germany) based Entertainment Shopping AG withdrew from Korea and there had also been rumors about layoffs. Swoopo, wich was founded in 2005, was one of the world’s leading auction sites combining […]