The international classifieds aggregator operator Rubrikk Group is to wind down operations after 16 years.
The company's CEO, Adil Osmani took to Linkedin today to announce the news, thanking staff as well as partners, clients and supporters.
Oslo-based Rubrikk operates a similar business model to classified ad aggregator sites such as Mitula and Trovit (both owned by Lifull Connect). Portals submit feeds of their listings to Rubrikk which in turn uses its own classifieds platform and SEO positioning to pass extra traffic back to the portals at a cost.
According to the company's website, it operates in 12 countries across four continents with listings in the real estate, used cars and jobs verticals. Rubrikk's assets include Libero.it, Kleinanzeige.focus.de and Rubrikk.no.
Rubrikk's departure from the market comes hot on the heels of news that fellow aggregator operator, Lifull Connect is also seeing profits shrink. The Japanese business' recent quarterly investor presentation admitted that revenue for its international aggregation business had fallen 29% behind original forecasts.
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