Kiwibox.com, a New York City based social network, has acquired the social network, Kwick! Community GmbH & Co. KG, a private German Limited Partnership and its General Partner Kwick! Community Beteiligungs GmbH for €7.1M, or approximately $10,000,000.
Kwick! is a European Social Network Community focused on the German-speaking market. With more than 10 million members and more than 2.5 Million Unique Users a month, this platform extends the Kiwibox marketplace toEurope. In addition, combined with the recently acquired Photobook-Community, “Pixunity.de,” this acquisition adds 2 Billion Page impressions a month to the Kiwibox.com network.
Founded in 1999, Kwick! had revenues in 2010 of approximately $5 million, and has been cash flow positive since inception. Kwick! has 32 employees and uses a network of over 150 volunteers to moderate its website. Following this acquisition, Kiwibox.com expects to be cash flow positive for the fiscal year ending December 31, 2011. As part of the acquisition, the former management team at Kwick! has signed agreements to remain with the company.
“Kiwibox.com”, states Andre Scholz, its President, “will continue to follow its strategic plan to identify other viable social networks as potential acquisition candidates. We also intend to continue to expand our own community, while leveraging operational costs through technology integration within our expanding social network.”
USA, New York, NY & Germany, Weinstadt (near Stuttgart)
Fusion Corporate Partners 
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