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Friends Reunited up for sale

Internet reunion site too big to manage

School reunion site Friends Reunited is up for sale, with a rumoured price tag of £25m.

Financial management company BDO Stoy Hayward has been appointed to either sell on the company or find it a new management team.

"This has been in the pipeline for some time. The business has been phenomenally successful but its still run by two guys out of their back bedroom," said a BDO spokesman. "They recognised they did not have the experience needed to run this worldwide business and need someone to take it on to the next level."

The company, jointly owned by Stephen Pankhurst and Jason Porter who founded the site back in 2000, employs 10 people and boasts sites not only here in the UK but also in Australia, South Africa and throughout mainland Europe. It currently has eight million members.

Existing users should not be alarmed by the announcement as the company is expecting little change to the service.

"The owners are very keen to keep a community feel. If we were to go down the trade route then we wouldn't expect too many changes to the service other than offering additional functionality," added the BDO spokesman.

BDO has received interest from several well-known companies but was not willing to reveal any names.


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