Schibsted's revenue outlook not threatened by Facebook launch -CFO

Vend Marketplaces ASA

15/08/2017 14:00

OSLO, Aug 15 (Reuters) - Facebook's  FB.O  launch of its 
Marketplace e-commerce service in 17 European countries is 
unlikely to impact the revenues of online classified adds 
provider Schibsted  SBSTA.OL , the Norwegian company told 
Reuters on Tuesday. 
    Oslo-listed Schibsted, operator of online market sites in 22 
countries, saw its shares fall sharply following the 
announcement that Facebook would expand its service for 
connecting local buyers and sellers.  urn:newsml:reuters.com:*:nL8N1L046G urn:newsml:reuters.com:*:nL8N1L11J0 
    "This is an expected development, it will not change our 
strategy," Chief Financial Officer Trond Berger told Reuters. 
    Schibsted's biggest classified revenue streams come from 
services such as job adverts, car sales and real estate sales, 
and less from person-to-person trade in smaller items. 
    "The generalist market means less to us income-wise, so we 
are not particularly concerned about our revenue flows," the CFO 
said, adding he did not expect an increase in costs to keep up 
with competition from the social network giant. 
 
 (Reporting by Camilla Knudsen, editing by Terje Solsvik) 
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters 
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net)) 
 
Keywords: FACEBOOK MARKETPLACE/EUROPE SCHIBSTED