Webrazzi Acquires Tech.eu: Expanding Tech News Coverage in Europe

Webrazzi Acquires Tech.eu to Expand European Tech Coverage

A significant development in the European tech media landscape has occurred, as Webrazzi, Turkey’s leading tech startup publication, has finalized the acquisition of Tech.eu, a prominent European tech startup news source. This union will create a consolidated platform delivering combined editorial content, data analysis, and market research.

Webrazzi's Growth and Reach

Founded in 2006 by Arda Kutsal, Webrazzi currently attracts 1.25 million monthly readers – equivalent to 15 million annually. The acquisition of Tech.eu is intended to broaden Webrazzi’s presence throughout Europe and enhance its English-language content offerings.

Tech.eu's Position in the Market

Launched in 2013 by Robin Wauters, a former TechCrunch journalist, Tech.eu quickly established itself as a key resource for news concerning European technology startups and innovation. However, the outlet has encountered growing competition from other European-focused publications, including EU Startups, Silicon Canals, and Sifted.eu, which is supported by the Financial Times.

Investors in Tech.eu

Tech.eu previously benefited from investment from several prominent figures and firms within the startup ecosystem. These included 500 Startups, Adeo Ressi of The Founder Institute, Roxanne Varza from Station F, Daniel Waterhouse of Balderton, and Carlos Eduardo Espinal of Seedcamp.

Motivations Behind the Sale

Robin Wauters articulated that a key driver for the sale was the desire to possess a robust technology infrastructure. Specifically, Tech.eu sought a custom CMS, dedicated software for managing native advertising, and a comprehensive events platform – all of which Webrazzi currently possesses.

Statements from Key Leaders

Arda Kutsal, founder and CEO of Webrazzi, commented on the strategic importance of this acquisition for expanding the company’s reach.

Robin Wauters, founding editor and managing director of Tech.eu, also shared his perspective on the benefits of the merger.

The History of Discussions

Wauters revealed that initial discussions with Arda Kutsal began as early as 2014, when Webrazzi expressed interest in participating in Tech.eu’s Seed funding round. While that initial investment didn’t materialize, the two organizations maintained contact and explored potential collaborations over time.

Addressing Competitive Pressures

Wauters emphasized the competitive advantages that Webrazzi brings to the table. He noted that Webrazzi’s team of 25 professionals will provide immediate support, particularly in the face of increasing competition in both media, data, and event sectors.

The Evolving European Media Landscape

When questioned about the increasing competition in the European media market, Wauters acknowledged its natural progression. He stated that as the European tech ecosystem matures, multiple publications are necessary to adequately cover the breadth of innovation.

Investor Perspectives on the Exit

Wauters clarified that his investors did not actively push for a sale. The initial investment was made approximately seven years ago by a group of angel investors who were primarily supportive rather than demanding an immediate exit.

The Acquisition Process

Kutsal shared that the acquisition process spanned eight to nine months, with the pandemic presenting some challenges. He initiated contact with Robin Wauters in late 2020 to explore the possibility of a partnership.

The Role of Technology in the Deal

Kutsal highlighted Webrazzi’s technological capabilities as a crucial factor in the agreement. He explained that Webrazzi’s proprietary CMS, online event platform, and native advertising solutions were significant assets that Tech.eu lacked.

Future Expansion Plans

The combined entity intends to further expand its presence in Europe, with potential ventures into Russia and the MENA (Middle East and North Africa) region.