Rambler Media, the company that operates a leading Russian search engine and portal Rambler and other web properties with 35.1 million unique users and 2.6 billion page views in December 2007, announced today its annual revenues are expected to reach up to $65 million in 2007, up over 100% from 2006. Rambler is also expected to improve its EBITDA to up to $10 million in 2007.
The improved profitability of Rambler Media is a result of internal reorganization in 2007. It started in early 2007 after a majority stake in Rambler Media was acquired by the media group Prof-Media in October 2006. The contextual advertising agency Begun, which was acquired by Rambler last summer, is expected to contribute $13-15 million to total revenues. Rambler search engine did some 280 million searches in December 2007.
This number is more than twice as low as in comparison to the leading Russian search engine and portal Yandex with 587 million searches. Yandex recently announced its revenues were expected to reach $167 million in 2007.
Rambler’s vision is “to create Russia’s leading open gateway to the Web and become Russia’s favorite homepage”. Rambler plans to focus on enhancing its search capabilities and extending the depth of its regional, vertical and media content. According to the company, the Russian internet advertising market is expected to reach $400 million in 2008, equally-divided between text-based and display advertising.
Rambler Media’s shares are traded on AIM, the junior equity market of the London Stock Exchange.