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March 31, 2007
Russia's Yandex Acquires Biz Social Networking Site
Yandex, the Russian portal and WiFi network operator, has acquired Moikrug.ru, which is said to be the country's largest social networking site for professionals. Moikrug roughly translates to MyCircle.
Regular and active a:c euro reader Yakov Sadchikov, co- founder of Russia-based search company Quintura, uses the term ‘acq-hired’ to describe the deal, suggesting the know-how and experience of the team at Moikrug was the attraction. Moikrug is said to have some 100k registered users.
No disclosure on price but rumors range from $1.5M to up to $5M including cash and Yandex stock options.
Read - Yandex buys social network MoiKrug.ru (cnews)
Posted on March 31, 2007 03:44 PM | Posted to News And Updates | Permalink
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