Project A Finds a Buyer for the Ailing Toroleo

PantherMedia 10601017
PantherMedia 10601017

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Delticom AG takes over ailing auto parts comparison site Toroleo from the Berlin-based company builder Project A. The purchase price was not disclosed. However, it will not be particularly high, since the startup, also supported by Creathor Ventures, was facing difficult times recently, a large portion of the 20 employees were laid off in the past few weeks.

Delticom is no stranger to the company builder: Around one year ago the company from Hannover bought Tirendo, a venture co-initiated by Project A, to complete its own offering, ReifenDirekt.de.

Toroleo aims to preserve the same startup charm under its new owner: “Online price comparisons have established themselves for all ages and have become a cult. Anyone who buys price consciously is cool,” says the press release on the acquisition. Thomas Rist will take over management of the newly formed Toroleo Tyres TT GmbH & Co KG, a 100% subsidiary of Delticom AG. Before the deal, the startup, launched in 2012, was led by founder Manuel Hinz.

Project A seems to be cleaning up its portfolio in recent weeks: Not only was the kitchen shop Migusta disbanded – only a few months after launch. Meanwhile Saatchi Art got a new owner: The US-based media corporation Demand Media acquired the online art gallery for $17 million.

Image Credit: © panthermedia.net / Alexander Tarasov