Not on the High Street , the UK’s best-loved curated online marketplace for unique lifestyle products and thoughtful gifts, today announces it has been acquired by growth equity firm Great Hill Partners.
The Burda family welcomes a new member: In the current financing round, Hubert Burda Media has become the majority shareholder in the Berlin-based social enterprise Good Hood GmbH, which operates Germany's largest social network for neighbours. Burda first invested in the platform in July 2016, and now contributed a further double-digit million investment. The network has over 1.6 million users in more than 8,000 neighbourhoods in Germany. With this majority takeover, Burda sets a clear course for further growth and sends a strong signal underscoring the importance of this social enterprise, especially during the COVID-19 crisis. All founders will remain shareholders of Good Hood GmbH. The charitable foundation Nebenan.de will also continue its work unabated.
"With an honest product 'made in Europe' and a transparent business model, the team at nebenan.de has now been making a strong, innovative impact on society for five years. We firmly believe that nebenan.de can build a successful business model around its market leadership. And we are proud to welcome such an innovative social enterprise to the Burda family."
Martin Weiss, member of the board at Hubert Burda Media
All founders still on board
Burda has replaced multiple investors, enabling the Nebenan.de team to continue its successful, public welfare-oriented path. Deutsche Tele Medien GmbH, Nordwest-Zeitung Verlagsgesellschaft and Pd ventures – the venture arm of the Pressedruck Augsburg media group – will remain investors of Nebenan.de. Founders Till Behnke and Ina Remmers will steer the company as Managing Directors, while founder Christian Vollmann will become Chairman of the Advisory Board effective September 1st, and remain committed to Nebenan.de for the long-term.
"Real people, a real community – aided by modern, digital communication technologies. Transcending artificial filter bubbles. That's our vision for nebenan.de. We are very lucky to have the opportunity to pursue this vision long-term with Burda by our side.”
Till Behnke, Nebenan.de founder and managing director
Germany's largest network for neighbours
More than 1.6 million users in over 8,000 "hoods" make Nebenan.de Germany's largest social network for neighbours. The platform aims to build functioning relationships between people within individual localities. By dispensing with algorithms and filter bubbles, Nebenan.de lowers the hurdle for real-life encounters and neighbourly relations. The platform currently develops various refinancing streams based on integrating local businesses and partners at the municipal level, as well as voluntary funding from dedicated users. In keeping with its mission, Nebenan.de consciously does not monetise its user data.