The Burda family is welcoming a new member: In the current financing round, Hubert Burda Media has become the majority shareholder in the Berlin-based social enterprise Good Hood GmbH, which operates Germany’s largest social network for neighbours. Burda initially decided to participate in the platform in July 2016 and has now made a double-digit million investment in the company. The network has over 1.6 million users in more than 8,000 neighbourhoods in Germany. With this majority takeover, Burda is setting a clear course for further growth and, especially during the COVID-19 crisis, is sending a strong signal underscoring the importance of this social enterprise. All the founders will remain shareholders of Good Hood GmbH and retain stakes in the company. The charitable foundation nebenan.de will also continue its work unabated.
“With an honest product ‘made in Europe’ and a transparent business model, the team at nebenan.de has now been making a strong, innovative impact on society for five years. We firmly believe that nebenan.de can build a successful business model around its market leadership. And we are proud to welcome such an innovative social enterprise to the Burda family“, commented Martin Weiss, member of the board at Hubert Burda Media.
All the founders still on board
Burda has replaced multiple investors, enabling the nebenan.de team to continue on its successful, public welfare-oriented path. Deutsche Tele Medien GmbH, Nordwest-Zeitung Verlagsgesellschaft and pd ventures – the venture arm of the Pressedruck Augsburg media group – will all remain investors of nebenan.de. Founders Till Behnke and Ina Remmers are staying on at the helm of the company. Effective September 1st, founder Christian Vollmann will be assuming the chairmanship of the Advisory Board, demonstrating his long-term commitment to nebenan.de.
“Real people, a real community – aided by modern, digital communication technologies. Transcending artificial filter bubbles. That’s our vision for nebenan.de. We are very lucky to have the opportunity of pursuing this vision long-term with Burda at our side”, says nebenan.de founder and managing director Till Behnke.
Germany’s largest network for neighbours
More than 1.6 million users in over 8,000 “hoods” make nebenan.de Germany’s largest social network for neighbours. The platform aims to build functioning relationships between people within individual localities. By dispensing with algorithms and filter bubbles, nebenan.de lowers the hurdle for real-life encounters and neighbourly relations: people helping people! The platform is currently pushing ahead with its refinancing, which is based on integrating local businesses and partners at the municipal level and augmenting this with voluntary funding. In line with its mission, nebenan.de consciously forgoes a data-based business model.