Is Milanuncios profitable in 2026?

No verified profit or revenue figures are publicly disclosed. Milanuncios operates within EQT-owned Adevinta Spain after a deal that closed February 27, 2026 at roughly a $2.3bn enterprise value; standalone financials remain undisclosed as of mid-2026.

Who owns Milanuncios now?

EQT's EQT X fund acquired Adevinta Spain, including Milanuncios, from prior private-equity owners Blackstone and Permira in a deal announced July 21, 2025 at roughly a2 billion euro enterprise value; the transaction closed February 27, 2026.

Is Milanuncios losing ground to Wallapop?

Wallapop, Milanuncios' closest traffic-overlap competitor, was acquired by Korea's Naver in August 2025 with $441.83M total raised. Milanuncios' own traffic fell 21.49% month over month to 13.21 million visits in April 2026, per Semrush.

Could AI replace Milanuncios?

Unlikely outright. AI cannot manufacture Milanuncios' two-sided buyer/seller liquidity or its two-decade Spanish brand, cited by EQT as a deal rationale in July 2025. The bigger AI risk is fraud automation, not displacement of the marketplace itself.

Who is Milanuncios' biggest competitor?

Wallapop, now Naver-backed since August 2025, is flagged as the closest competitor by traffic overlap. Idealista dominates the real estate vertical, and sibling brand Coches.net competes in automotive within the same EQT-owned Adevinta Spain portfolio.

Has Milanuncios' website traffic been declining?

Yes. Milanuncios had 70+ million monthly visits at its 2014 Schibsted acquisition; by April 2026 Semrush recorded just 13.21 million visits, down 21.49% from the prior month, though measurement methods differ across eras.

E-commerce and marketplaces · subsidiary of EQT (via Adevinta Spain B.V.) · Spain

Milanuncios

milanuncios.com ↗

Spanish online classifieds marketplace for buying and selling secondhand goods.

Losing its protection

Assessed 22 July 2026 · Evidence as of 22 July 2026

The structural protection is eroding.

On the recordSince 22 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: First full post-carve-out results under EQT ownership, showing whether it invests in product or cuts costs

The call

Milanuncios still has scale and a loyal user base, but traffic keeps sliding and a new private equity owner faces a Naver-funded Wallapop pressing on the same ground.

Milanuncios is a 20-year-old classified ads marketplace in Spain where people buy and sell items. It has real strength from its long history and millions of active buyers and sellers, but that strength is being challenged. Wallapop, a rival app that was just bought by Naver (a South Korean company) in 2025 with lots of money to spend, is taking users away from Milanuncios. The site was sold to a new private owner in early 2026, and its visitor numbers have been dropping sharply. The biggest question is whether the new owner will invest money to compete with Wallapop or cut costs instead. If Wallapop keeps pouring in cash and Milanuncios cannot keep up, the marketplace could keep shrinking.

Why

AI pressure: None apparent. No AI product is pulling buyers away yet; AI is more a tool Milanuncios could use for search, fraud checks, and listings than a predator. Could AI do the core job? Unlikely.

Bigger players: Wallapop (Naver-backed since Aug 2025). Wallapop now has Naver's capital behind it and is pushing hard in the same secondhand categories where Milanuncios has bled traffic for years. Could a giant copy it? Probably.

What protects it. Two decades of Spanish buyer and seller habit, 8 million-plus app users, and listings across categories Wallapop doesn't fully cover.

What would change this call

Milanuncios monthly traffic figures for Q3 and Q4 2026. Shows whether the April 2026 drop was a blip or a sustained decline.
EQT announces product investment or headcount cuts at Milanuncios post carve-out. Reveals whether new owner is reinvesting or extracting cost savings.
Wallapop-Naver launches new features or ad campaigns targeting Spanish secondhand market. Indicates how aggressively the Naver-backed rival is pressing its capital advantage.

Key numbers

13.21M monthly visits, down 21.5% MoM (Apr 2026)
Down from 70M+ monthly visits in 2014 (2014)
EQT bought Adevinta Spain for ~€2B (Jul 2025)

Named risks

PE cost-cutting under new EQT ownership following Feb 2026 carve-out closing. Severity: high
Traffic decline of 21.49% MoM in Apr 2026 signals possible structural erosion. Severity: high
Naver-backed Wallapop reinvesting aggressively after Aug 2025 acquisition. Severity: high
AI-enabled identity fraud and deepfake scams industrializing against marketplaces, per Jun 2026 report. Severity: medium
Financial disclosures conflict across estimators, obscuring true business health. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Wallapop	gaining on	Naver-backed since Aug 2025; flagged as Milanuncios' closest traffic-overlap rival, Jun 2026
Idealista	losing to	Dominant Spanish real-estate portal contesting Milanuncios' property listings category
Vinted	gaining on	Partnered with Rokt for ML ad targeting Aug 2024; dominant in European C2C fashion resale
Coches.net	contesting	Sibling automotive-vertical brand within same EQT-owned Adevinta Spain portfolio since Feb 2026

Questions people ask

Is Milanuncios profitable in 2026?: No verified profit or revenue figures are publicly disclosed. Milanuncios operates within EQT-owned Adevinta Spain after a deal that closed February 27, 2026 at roughly a $2.3bn enterprise value; standalone financials remain undisclosed as of mid-2026.
Who owns Milanuncios now?: EQT's EQT X fund acquired Adevinta Spain, including Milanuncios, from prior private-equity owners Blackstone and Permira in a deal announced July 21, 2025 at roughly a2 billion euro enterprise value; the transaction closed February 27, 2026.
Is Milanuncios losing ground to Wallapop?: Wallapop, Milanuncios' closest traffic-overlap competitor, was acquired by Korea's Naver in August 2025 with $441.83M total raised. Milanuncios' own traffic fell 21.49% month over month to 13.21 million visits in April 2026, per Semrush.
Could AI replace Milanuncios?: Unlikely outright. AI cannot manufacture Milanuncios' two-sided buyer/seller liquidity or its two-decade Spanish brand, cited by EQT as a deal rationale in July 2025. The bigger AI risk is fraud automation, not displacement of the marketplace itself.
Who is Milanuncios' biggest competitor?: Wallapop, now Naver-backed since August 2025, is flagged as the closest competitor by traffic overlap. Idealista dominates the real estate vertical, and sibling brand Coches.net competes in automotive within the same EQT-owned Adevinta Spain portfolio.
Has Milanuncios' website traffic been declining?: Yes. Milanuncios had 70+ million monthly visits at its 2014 Schibsted acquisition; by April 2026 Semrush recorded just 13.21 million visits, down 21.49% from the prior month, though measurement methods differ across eras.

Timeline

2026-02-27EQT closes acquisition of Adevinta Spain including Milanuncios; ~282M euro distributed to Adevinta shareholders
2025-08Wallapop, Milanuncios' closest peer, acquired by Korea's Naver
2025-07-21EQT agrees to acquire Adevinta Spain at ~2 billion euro enterprise value
2025-05-19Adevinta reported exploring sale of entire Spanish classifieds unit
2023-11Adevinta taken private in ~14 billion euro buyout by Blackstone and Permira
2019Adevinta, Schibsted's classifieds arm, spun off and listed in Norway
2014-12-03Schibsted (SCM Spain) completes ~50 million euro acquisition of Milanuncios
2005-09Milanuncios founded in Spain, bootstrapped with no external capital

Revision history

22 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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