Photobox buys out Moonpig for a cool £120 million
There is not a single person alive here in the UK that has not heard the Moonpig.com advert on television (as annoying as it is), and this is one of the reasons that the personalized greetings card manufacturer became so well known in what feels like such a short space of time. Now however Photobox, Europe’s market leading photo service, has just purchased Moonpig for a cool sounding £120 million which it is to pay off with bank loans and with the help of venture capitalists, aiming to make it Europe’s largest card manufacturer and extend Photobox’s brand awareness.
“It’s great to see two high-growth, profitable and ambitious European online brands come together to leverage each other’s strengths and create a global market leader.” stated Stan Laurent, the chief executive of the group consisting of all top bosses from both the companies.
What do you guys think of this recent purchase then? And more importantly, how annoying is that moonpig advert? For your convenience, find it below.
