Eniro buys Swedish video community

Dagens Media yesterday revealed that Eniro, a leading Nordic search company, has bought 48.1% of the shares in Netclips AB, which owns the video community Bubblare.se.

Bubblare started on September 1, 2006 and was one of the first sites in Sweden with user-generated video content. Since then several other video sites have been launched by Aftonbladet, ZTV and TV4’s FejmTV. As a result of the increased competition and costs, Bubblare was probably in need of more capital to expand.

Eniro has an option to acquire the remaining 51.9 percent.

UPDATED: Dagens Industri reports that Eniro pays 1 million euro for the minority stake.

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