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ProSiebenSat.1 takes stake in social network

German commercial broadcaster ProSiebenSat.1 has acquired a stake in online social network meetOne.

The company, through its SevenVentures investment arm, has bought a 29% stake in the website, which was developed by the team behind successful online gaming venture Bigpoint. The site, which is run by managing director Mila Sukhareva, combines online social networking with a dating site and was launched in the second quarter of 2011.

Christian Wegner, chief new media and diversification officer at ProSiebenSat.1, said: “MeetOne is the logical next step beyond social networks and successful online dating models. Its target group is substantially larger than for online dating. The network impressed us with two aspects especially: its highly successful, international team, and a product that combines entertainment with an innovative business model. We also foresee many opportunities for links with TV shows. So meetOne enriches our equity investment portfolio with another fast-growing startup company that has very good prospects for success.”