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All posts tagged "Mail.ru"

  • Russia’s largest social network delays IPO following Facebook jitters

    The circus around Facebook’s juddery IPO has rolled into Moscow. The Wall Street Journal is reporting that Russia’s largest social network Vkontakte has postponed its IPO as a result of Facebook’s less-than-brilliant market debut. The social network’s founder and CEO Pavel Durov reportedly tweeted “The Facebook IPO damaged many private investors’ trust in social networks, and the IPO has been postponed indefinitely”. Durov is thought to own about 12% of...

  • Russian billionaire Yuri Milner steps down as chairman of Mail.ru

    Russian entrepreneur and venture capitalist, Yuri Milner, has stepped down as chairman of the board of directors of Mail.ru, one of the largest internet companies in Russia. Milner is also the founder of international investment firm Digital Sky Technologies (DST), and has invested in companies such as Facebook, Twitter, Y Combinator and ZocDoc through Mail.ru and DST. In a press release issued by Mail.ru, the group announced that current CEO Dmitry Grishin was elected to...

  • Russian answer to Twitter sees phenomenal early growth

    Russia’s answer to Twitter is reportedly attracting users in their thousands. Owned by the Mail.ru group, Futubura attracted some 17 000 users within 24 hours of launching, Russian state news agency Ria Novosti reported. When the public beta launch of Futubura was announced, Mail.ru CEO Dmitry Grishin released a statement saying: “We are excited by the opportunity facing Futubra as microblogging is a fast growing segment which fits well into the Mail.Ru...

  • Ex Naspers exec talks emerging markets and entrepreneurship

    Former Naspers executive Kim Reid is the man behind Takealot. This South African online retail site is looking to gain significant market share in a sector where Naspers-backed Kalahari.net is the country’s predominant force. Memeburn sat down for an exclusive interview with Reid, tackling his views on emerging markets, entrepreneurship and the shift from corporate — alongside his perspective on the future of eCommerce and what his latest venture seeks to achieve. Emerging Markets to Watch When it comes to BRICS (Brazil, Russia, China, India and South Africa), Reid feels that Brazil is flying: “There are many fantastic entrepreneurs in...

  • The emerging market social-networking superpowers

    There is something going on in China, Russia and South Africa. Via various internet investments and creations, these three countries combined have built up major stakes in some of the world’s biggest sites and social networks. Russian investment company, Digital Sky Technologies (DST), now owns about 7-10% of Facebook by various estimates, putting the company among Facebook’s biggest owners. Via its sister company Mail.ru, another 2.4% of Facebook is held. Recently, according to the New York Times, DST ploughed a further $50-million into Facebook. DST also owns about five percent of the popular social gaming company Zynga and another five percent...

  • Artificial intelligence to transform web: Russian tycoon

    The emergence of artificial intelligence will transform the Internet industry and social networking over the next decade, says Russia’s leading web tycoon. The low-profile Yury Milner is chairman in the rapidly expanding Mail.ru Internet firm and CEO of DST Global investment company who have minority stakes in Facebook and other Western firms. South African-based Naspers is also a shareholder of DST and Mail.ru. “I think that in 10 years if you ask a question on a social network and you get an answer you will not know if a computer or a person has answered you,” says Milner. “When you receive a...

  • Mail.ru soars on London stock debut

    Shares in Russian Internet company Mail.ru, an investor in social networking site Facebook, surged on their London debut on Friday. Shares in the largest Internet company in the Russian-speaking world were offered at 27.7 dollars each but shot up by 30 percent to 37 dollars shortly after the market opened. The shares are only being conditionally traded at the moment and will be officially available for open trading on November 11. The company,...

  • South Africa, Naspers and the Facebook connection

    Emerging market internet media giant Naspers has announced that it will acquire a 28.7% stake in Digital Sky Technologies (DST), the Russian internet company that has invested in Facebook, social network game creator Zynga and owns the mature instant messaging service, ICQ. Naspers said it will be investing $388-million via its international investment arm MIH, and contribute its 39.3% stake of Mail.ru, Russia’s biggest email and communications provider, to DST. Naspers is a US$15-billion South African media company focused on internet investments in emerging markets. Apart from various internet investments in Asia, Eastern Europe, India and South America, the company...