Vend Marketplaces ASA

Vend Marketplaces ASA is a Norwegian company operating as a leading developer of pure-play online marketplaces in the Nordics. It specializes in connecting buyers and sellers through prominent platforms such as FINN, Blocket, DBA, Bilbasen, Tori, and Oikotie, covering sectors like Mobility, Real Estate, Jobs, Recommerce, and Delivery. Headquartered in Oslo with approximately 3,884 employees, the company originated from the 2024 split of Schibsted ASA, focusing exclusively on digital marketplaces after divesting its news media operations. Vend holds dominant market positions, reaching an estimated 80% of inhabitants weekly in Norway and Sweden, with over 1 billion monthly site visits and higher average revenue per user than European peers. Its asset-light model generates strong profitability, with EBITDA margins exceeding 20% and projections for further improvement to 28-30% following planned divestitures. Currently in a net cash position, Vend demonstrates robust financial metrics, including high interest coverage and ample liquidity, supporting investments and shareholder returns while maintaining low leverage. As a key player in the communication services sector, specifically internet content and information, it leverages AI and data analytics to enhance user experiences and transaction efficiency across Norway, Sweden, Denmark, Finland, and Poland.