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March 06, 2008
Gazprom Media Buys Most of Russia's RuTube at $15M Valuation
Gazprom-Media is taking a majority stake in the Russian online video site RuTube at a valuation of $15M, reports business daily Kommersant via Yakov at Quintura. Gazprom-Media will also invest several million dollars in RuTube business.
RuTube was founded 2 years ago, taking inspiration from Google's buyout of Youtube. The site says it currently has 400K daily users and runs more than 40M video views per month. Apparently Mangrove Capital among other firms was interesting in investing but Gazprom swept in.
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Posted on March 6, 2008 04:09 PM | Posted to Web 2.0 | Permalink
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