Latest Magnus Wiberg News
Apr 9, 2020
Posted 7 February, 2020 eEquity, a digital growth sector fund with c. SEK 2.5 billion under management, was founded in 2010 by Patrik Hedelin, co-founder of Boo.com, and Magnus Wiberg, co-founder of PriceRunner. eEquity’s fourth fund has just acquired a substantial minority stake in PriceRunner – the very same company that was originally co-founded by eEquity Partner Magnus Wiberg in 1999. Magnus Wiberg, Partner at eEquity comments: “When we founded PriceRunner in 1999, e-commerce was a fraction of what it is today. We sold the company to US investors who used it as a cash-cow for more than a decade until Nicklas Storåkers acquired the company in 2016. Nicklas is on a mission to create the world’s most loved comparison shopping service. The team has already increased the quality of the site significantly with stronger user traction as a result. We are now ready to establish PriceRunner as the dominant player within this sector and to grow the profitability exponentially.” Nicklas Storåkers, CEO at PriceRunner, comments: “During the last three years we have built a great service and an extraordinary team. Every day, we help millions of consumers to make better deals by comparing 1.8 million products from 5,900 stores. We have greatly benefitted from having Nordstjernan as one of our main owners. Equally, we are excited that eEquity, with is genuine experience both from e-commerce and PriceRunner in particular, will back the future endeavours of PriceRunner.” In the transaction, Nordstjernan divests its 35 % stake in PriceRunner to eEquity, Nicklas Storåkers and key executives including Chairman Paul Fischbein. Post-transaction, the majority owners are Karl-Johan Persson, eEquity and Nicklas Storåkers. About eEquity eEquity is a Private Equity firm (digital growth sector fund) that invests in Nordic internet businesses with a special focus on internet retailing. Portfolio companies include Footway, NA-KD, iDeal of Sweden and RoyalDesign. eEquity has invested in the online sector since 2010 and has around SEK 2.5 billion under management, in four funds, with a total of 16 portfolio companies. eEquity normally invests in companies with a turnover between EUR 5-20 million with an ambition to build them to in excess of EUR +100 million turnover with profitability. The companies are normally entrepreneur-led growth companies with potential to become market leaders. The investors behind eEquity are European Investment Fund, significant European family offices and financial institutions. eEquity is led by Patrik Hedelin and Magnus Wiberg who are both experienced internet entrepreneurs with experience from boo.com and PriceRunner.