Time Out buys Yplan for £1.6m
The all-stock deal – significantly less than the roughly £31m raised by the start-up since 2012 – will make the Time Out Group "stronger than ever", says its CEO
News By IQ | 24 October 2016
Last-minute event discovery and ticket sales platform YPlan has been acquired by the Time Out Group in a £1.6m all-stock deal.
UK-based Leanworks – trading as YPlan – has raised more than £31 million since its founding in 2012 by Lithuanians Rytis Vitkauskas and Viktoras Jucikas, who say in a joint statement the company is an “excellent fit” for Time Out.
Yplan lost £6.2m in 2015, although Time Out notes that “subsequent reductions in its cost base have materially reduced losses in the current…
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