Tuenti
Telefonica has finally announced that it has acquired 90% of the capital of the Spanish social network Tuenti for 70 million euros. According to the first news to come out about the acquisition, Telefonica will be on the sidelines of the development and management of the social network during the next few months.
This is entirely logical if we keep in mind that Tuenti represents a new effort for the Spanish telecom giant to make its way into the social networking world. Keteke -its previous gamble- folded after a little more than a year, with pitiful growth numbers. I’m guessing that they’ll want to stay on the sidelines to see how exactly to manage this kind of project, since social networks are totally different from what Telefnica is used to.
The 70 million that Telefonica paid is only 4.22% of the 1.656 billion euros the company earned in teh first quarter of 2010. Tuenti currently has eight million active users, and a large percentage of those users is made up of young people between 23 and 25 years old.
Read Also
