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Axel Springer takes 20% stake in French startup Qwant.com

MUMBAI: m provides users with a 360 degree overview about their search terms – including webpages, social media, news, products, pictures and videos. The results are arranged in different streams, allowing users to refine their search and explore each category.

AxeAxel Springer Digital Ventures, a subsidiary of Axel Springer SE, has acquired a minority stake of 20 per cent in the French search startup Qwant.com.

Qwant.col Springer CTO Ulrich Schmitz said, “There is a lot of innovation on the search market. In order to participate and to learn we are engaging in a young company that is dedicated to add diversity and new impulses”.

Co-founders Jean Manuel Rozan and Eric Léandri said, “Axel Springer Digital Ventures is an ideal partner for us. They understand technology, they have experience in growing digital businesses and they have a vision. We are thrilled to partner with them and are looking forward to share expertise and knowledge”.

Qwant.com launched its first version in France in 2013 and in Germany in March 2014. In 2013 it processed more than half a billion search requests. The product will be continuously developed and further expanded.

The company has 25 employees and is headquartered in Paris. Qwant.com adds that it puts an emphasis on respecting user-privacy and has adopted a “privacy by design” approach from the start.