“Shifter is a very attractive company that we have been following for a long time. We are very impressed with how they have established themselves as a key news outlet for everyone who is part of the startup and entrepreneurial scene in Norway. We see great potential for Shifter, and we are very happy that they have chosen us as partners in the next phase of the company’s development,” says Sarah Sørheim, product owner at Schibsted News Media.
She will become the new chairman of the board at Shifter, succeeding Espen Egil Hansen. The latter sees the acquisition as a recognition of the work the founders have done.
“Norwegian business is undergoing dramatic changes. Digitization, innovation, and entrepreneurship are becoming the most important drivers of value creation. No business newspaper understands this shift better than Shifter, and with Schibsted on board, the newspaper can grow and become an important partner for several industries in transition. When Lucas and Per Ivar started Shifter in 2016, they had a vision of a business newspaper that took the digital shift seriously. Today, Shifter has become an important information hub for startups and investors,” says Hansen.
From WordPress blog to Shifter 2.0
Lucas Weldeghebriel is the founder and CEO of Shifter and will continue in this role even after the acquisition.
“We were in contact with several media companies during this process, but Schibsted stood out early on as the clearly best partner for Shifter’s future path. Now we will together create something even bigger than we could have done separately,” says Weldeghebriel.
He says a lot has happened since starting with a WordPress blog for $49 in 2016.
“What I am most pleased about is that we have managed to attract incredibly talented employees who have built Shifter to what it is. Now we are moving into Shifter 2.0, and we have some pretty exciting plans together with Schibsted that we are itching to get started with,” he says.
Seeing great opportunities
“We see significant synergies and complementarity between Schibsted and Shifter, especially within advertising, events, and subscription services. We believe that Shifter, with its impressive team, has the potential to develop into a tone-setting medium for everyone who wants to stay updated on developments and changes in technology and business,” says Daniel Elston in Schibsted Growth & Investments.”
Shifter’s new chairman has great faith that the business newspaper will now receive the support it needs from Schibsted to grow even further.
“They will also be a great addition to our portfolio of newspapers,” says Sarah Sørheim.
Facts about Shifter
- Norwegian business newspaper with a focus on innovation, founded in 2016.
- Covers the major trends affecting all industries (automation, the green shift, etc.). The target group is people who work in business, the startup industry, investors, entrepreneurs and students.
- The CEO and editor-in-chief is Lucas Weldeghebriel, who started the company together with editor and co-founder Per Ivar Nikolaisen. Aslaug Ingeborgrud Syvertsen, who is responsible for sales and finance, is also a co-founder.