Mediadrive Oy, the company behind Kuvat.fi, the largest Finnish-based photo sharing site has acquired Fotopankki.fi from Vendep. Fotopankki.fi, which was earlier part of the popular Finnish portal site Plaza.fi will be integrated into Kuvat.fi immediately. This isn’t the only acquisition carried through by Kuvat.fi. Earlier this year they acquired Kuvaboxi from MTV Media.
Fotopankki.fi has been popular with private people using the site for free. Kuvat.fi offers a free version of the service as well, with 5 Gb of data as a limit. If users want more space and features, they would have to go for the pro version of the service that costs them 24€ a year.
Vendep, who previously owned Fotopankki.fi, is a company working with early stage startups that could potentially make it big. Instead of investing financial resources to the companies they are able to help with business development and programming resources required to make the concept big. They employ 10 people in Finland and 140 in India.
”The acquisition of Fotopankki.fi is an excellent match with Kuvat.fi’s growth strategy to become the leading image hosting website in Finland. Together with the acquisition of Kuvaboxi from MTV Media last spring, Fotopankki.fi further strengthens Kuvat.fi’s position as the most popular online image hosting service in the country,” explains Mediadrive’s Chairman of the Board Olli Martinheimo.
Mediadrive Oy is not hugely successful if you look at their revenue, but from a profit-point of view – they are. They turn over about 100 000 euros a year in revenue with about a 40% profit margin. The reason I worded Kuvat.fi as the most successful Finland-based photo sharing site is the fact that while there are no official statistics, photos on Facebook might be attracting more than 7 million weekly page views, that Kuvat.fi attracts, from Finns.
Nevertheless, it’s interesting to see what Mediadrive will do with the build up of their photo sharing service. It’s one of the areas of online property that aren’t considered too attractive anymore. However, with this many pageviews, they rank among the 20 most visited Finnish websites out there making them an attractive partner for advertisers.