Tsikot’s Php100M offer by MIH breaks down

**Syuryuken** · May 18th, 2012 02:02 PM

Ngayon ko lang nabasa to. Pakidelete na lang pag meron na.

Tsikot’s Php100M offer by MIH breaks down

For the close to two years now, MIH (majority owners of sulit) has been trying to buy Tsikot — an online Filipino community/forum focused on cars and general automotive.

According to a source close to the deal, MIH offered “up to” Php100 Million to the founders of Tsikot. But there’s a catch — only 10% will be paid in cash (Php10 Million), straight up.

The rest will be staggered based on the performance and revenues of the site (more like an earn-out which is paid out over time as the acquired company achieves certain levels of sales or profitability).

The initial Php10 Million seemed a bit small and the earn-out for the next 5 years is not guaranteed. Likewise, the acquisition involved 100% of Tsikot (it started out as simple majority at first) so that means the founders will eventually be taken out of the picture completely.

Last week, negotiations tanked for the last time. Tsikot will continue to be run independently and MIH will pursue the car classifieds thru sulit (a move they’ve already been doing for a while now).

MIH has investments in NimBuzz, OLX, Tencent and many other internet and e-commerce sites around the world. The company bought 51% of ************** back in 2009 for an rumored $1 million

Ayaw ba nila yung lakilakisasakyan bilhin? Kaya lang di kasi bumenta sa mga car enthusiasts yung site na yun

peace! marami tayong kaibigan diyan.

**chua_riwap** · May 18th, 2012 02:07 PM

Originally Posted by Syuryuken

Ngayon ko lang nabasa to. Pakidelete na lang pag meron na.

Ayaw ba nila yung lakilakisasakyan bilhin? Kaya lang di kasi bumenta sa mga car enthusiasts yung site na yun

peace! marami tayong kaibigan diyan.

may mga members din ang tsikot dyan. yun iba nga lumipat na dyan.

BTT
master jedi totoo ba yang news item na yan?

**piscesboy** · May 18th, 2012 02:11 PM

hindi naman kasi ganun kadami nagpupunta sa lakilaki, minsan tumitingin din ako dun sa forum pero hindi ako member.

sorry kung personal tanong ko pero si master lang ba mayari ng tsikot?

**Syuryuken** · May 18th, 2012 02:13 PM

Originally Posted by piscesboy

hindi naman kasi ganun kadami nagpupunta sa lakilaki, minsan tumitingin din ako dun sa forum pero hindi ako member.

sorry kung personal tanong ko pero si master lang ba mayari ng tsikot?

AFAIK si master at si doc

**piscesboy** · May 18th, 2012 02:22 PM

^
50M each.
pwede na ilibre lahat ni master yung nasa tsikot shop kung ganun. :naughty2::shake:

**Retz** · May 18th, 2012 02:29 PM

magkano ba initial investment sa pag gawa ng isang forum site?

**chrismarte** · May 18th, 2012 02:33 PM

ano ang pros and cons nyan sa member pagnatuloy?

**piscesboy** · May 18th, 2012 02:34 PM

Originally Posted by Retz

magkano ba initial investment sa pag gawa ng isang forum site?

di lang ako sure pero pwede naman yata gumawa sa weebly/yola e. hehe! free pa yata yun.

**niky** · May 18th, 2012 02:35 PM

Initial investment is small... but what matters is hits.

Lakilakauto is not big enough (was never big enough) to warrant their attention. They want tsikot for the web hits and classifieds. It's the only online auto-classifieds that rivals chulit.com.ph in size and reach. If they buy it out, they will have a stranglehold on the market.

If they want kotse... sure... we'll sell for 10m up front, plus 2m a year in terms of salaries for site admins? No problem.