Travel social network WAYN.com has insisted it is not for sale despite appointing high profile financial advisors Lazard to oversee approaches for the company. The start-up was the subject of another round of speculation this week after it emerged Lazard was called in to look at some of the declarations of interest from third parties.…
WAYN denies latest speculation over sale
Travel social network WAYN.com has insisted it is not for sale despite appointing high profile financial advisors Lazard to oversee approaches for the company.
The start-up was the subject of another round of speculation this week after it emerged Lazard was called in to look at some of the declarations of interest from third parties.
The Sunday Telegraph reported WAYN could be valued at £100 million.
Travolution revealed in January that WAYN had received a number of approaches for the business last year although reports that AOL was a potential suitor were knocked back by both parties.
However, AOL as since gone on to acquire the Bebo social network for £423 million.
Peter Ward, WAYN co-founder and co-chief executive, stressed once again this week that the company was not for sale.
He added: “We have asked Lazard to help us work through all the various strategic options for the company.
“No decisions have been made. Of course, given our success to date, we have attracted a few unsolicited expressions of interest from third parties to partner with us; and Lazard are helping us work through this.”
