Search - Wednesday, January 24, 2007
The Mail.ru Story
South-African media company Naspers will buy 30% in the Russian Mail.ru Internet portal for $165M. The communication Internet portal Mail.ru is owned by US–based Port.ru. The shares were bought from Russia's Digital Sky Technologies and Tiger Global Management.
Mail.ru is the largest free e-mail system in Russia, providing 24 million people with service. Mail.ru earned 17.3M in 2005 with net profits at $3.1M. In addition to email, the company claims to have the largest dating and auction services in Russia.
Russia is has been a tough nut for outsiders to crack. ComScore Networks says 28% of Russian Internet users on home or office computers visited Google sites in October, making Google the eighth-biggest Internet brand . Yandex, a privately held Russian search engine is number one as it was visited by 64% of Internet users. Mail.ru came in second at 56%, and Rambler was a closde third at 53%; Yandex controls 50% of Russian market for ads linked to searches; Rambler is second with 41% and all other companies, including Google, fight over the remaining 9%.
A year ago, Mail.Ru and Yandex formed a strategic partnership in search technologies and contextual advertising.
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