In anticipation of an October 2010 IPO, Russian internet investor Digital Sky Technologies has changed its name to Mail.ru Group. The name change takes advantage of the well-known reputation of Mail.ru in Russia, ahead of the London share sale which could generate as much as USD 6 billion. Mail.ru Group’s investment arm, DST Global, has been spun off to become a separate entity headed by Yuri Milner.
Mail.ru Group (www.mail.ru)
Moscow-based Mail.ru Group is an internet-specific holding company specializing in tech-savvy mid-sized companies in Russia and the CEE region. In July of 2010 the company acquired full control of Mail.ru through a two-way deal with Naspers. The Mail.ru portal has been the most prominent of all the firm’s investments, being that it is the world’s largest internet site devoted to the Russian speaking world.
Since the company’s inception in 2005, Mail.ru Group has raised more than USD 1 billion and invested in more than 30 projects.
DST Global (www.dst-global.com)
DST Global is a spin-off of the former Digital Sky Technologies, investing in internet-related opportunities primarily in Russia. Portfolio companies combine to hold approximately 70% of the total page views of Russian language web sites. DST Global sites reach an estimated 300 million users and hold the tops spots in Russia and the CIS.
Social gaming, social networking, communications, e-commerce, and internet payment systems are among the types of projects DST Global prefers. DST Global is also one of the investors in Facebook.
12/10/2010
Central & Eastern Europe, Internet, E-Commerce & E-Services, Investment, Private Equity News, Russia, Telecoms & Media