Skip to contentHome page Seeking Alpha - Power to InvestorsStock IdeasNorwayNov. 03, 2025 11:45 PM ETVEND MARKETPLACES ASA (SBSNF) Stock, SBBTF Stock, SBSNY StockSBSNF, SBBTF, SBSNYProtean Funds Scandinavia AB54 FollowersSummaryVend ASA operates leading Nordic online marketplaces across Mobility, Real Estate, Jobs, and Recommerce.Management’s medium-term plan appears reassuringly realistic as it assumes largely flat volumes across its verticals.Defending entrenched positions in an evolving market often requires renewed investment in AI technology, advertising and distribution.We continue to view Vend as a franchise of reasonable quality, but with diminishing structural certainty.Midnight Studio/iStock via Getty ImagesThe following segment was excerpted from the Protean Funds Scandinavia AB October 2025 Partner Letter.We list a few of the silly things we did in October, raise a structural warning flag the online classifiedsThis article was written byProtean Funds Scandinavia AB54 FollowersProtean Funds Scandinavia AB (PFS) manages the funds Protean Select and Protean Small Cap. PFS AB is an investment firm supervised by the Swedish FSA, Finansinspektionen and holds a licence for discretionary portfolio management. Protean Funds Scandinavia AB was founded in January 2022. The funds are managed by Pontus Dackmo and Carl Gustafsson. Note: This account is not managed or monitored by Protean Funds, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Protean Funds' official channels.CommentsRecommended For YouSeeking Alpha - Power to InvestorsPower to InvestorsFollow usDownload appContact usSubscription Support: subscriptions@seekingalpha.com© 2025 Seeking AlphaTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.