Written By Qwant was founded in 2011 with the aim of providing a privacy-focused search engine that would not track user data. However, despite partnerships with European institutions and efforts to expand globally, Qwant has struggled to compete with Google’s dominant market share.
In 2020, Qwant was hit by a series of setbacks, including the departure of its CEO and a sharp drop in revenue. The company reportedly faced financial difficulties and was forced to cut its workforce by 25%.
Enter Octave Klaba, the founder and CEO of OVH, a French cloud computing company. Klaba is reportedly in talks to acquire Qwant through his holding company, Forest Hill Capital, with plans to revive the search engine as a privacy-focused alternative to Google.
Klaba has a track record of investing in and turning around struggling companies. He founded OVH in 1999, and it has since become one of the largest cloud computing providers in Europe. Klaba has also invested in several other French startups, including Deezer and LeKiosk.
If Klaba is successful in his bid to acquire Qwant, he will have his work cut out for him. Qwant’s market share is currently negligible, with less than 1% of the search engine market in Europe, according to StatCounter. By contrast, Google has a market share of over 90%.
However, Qwant does have some advantages over Google. Its privacy-focused approach could appeal to users who are concerned about data privacy and want to avoid being tracked by tech companies. Qwant also has partnerships with several European institutions, including the French government and the European Commission, which could give it an advantage in the European market.
Klaba has not yet commented publicly on the reported acquisition talks, and it remains to be seen whether he will be able to revive Qwant’s fortunes. However, if he is successful, it could be a significant win for European tech and a boost for those who value privacy in the digital age.
