German Meta-Search Engine takes on second Shareholder
Chemicals distributor STOCKMEIER Group (Bielefeld, Germany) has announced an investment in technology start-up Chembid GmbH & Co. KG (Oldenburg, Germany). The company, which was launched in 2016 as a spin-off from chemicals formulator BÜFA Group (Oldenburg, Germany), is a meta-search engine or aggregator. This investment is the first strategic partnership that Chembid has entered into, STOCKMEIER said in a statement.
According to its website, Chembid sees itself as the world’s largest search engine for chemicals, when measured by the number of registered offers. It currently covers around two million offers from almost 100’000 supplier shops, located in ca. 160 countries. Chembid is planning to use the funds received from STOCKMEIER’s investment to further develop the meta-search engine, add more data-based services and promote the company and its service offering through global marketing activities.
“In the world of chemistry, information and data will play an important role going forward. In Chembid, we see a news aggregator for products and their accessibility on the Internet, and thus engage in a business model of the future,” stated STOCKMEIER’s Executive Partner Peter Stockmeier.
No information on the size of the shareholding and the valuation of the transaction handled through STOCKMEIER Holding was disclosed.
Source: STOCKMEIER website, Chembid website
HGE / DCG – 15.01.2019