Nettbil was acquired by Schibsted Media.

Nettbil, an Oslo (Fornebu), Norway-based company managing an online marketplace for used cars, announced getting into an acqusition deal with the Norwegian media group Schibsted.

The deal involves that Schibsted purchases 67% of existing shares from former investors Aller Media and Tjuvholmen Ventures, as well as fresh growth capital injecting in Nettbil.

The remainder of Nettbil will still be owned by the founders themselves, who fully retain their shareholdings in the company.

Nettbil, founded in 2015 as Carvy and led by CEO Anders Espelund, developed an online marketplace that brings together about 1000 car dealers from Norway, where they can place bids on the used car that have been put up for sale. The company sold 762 cars in 2018 and more than 3000 only for the month of December in 2019.

In 2018, Nettbil raised $1.1M from Aller Media, which became a major shareholder in the company.