The leading Russian social networking site, Odnoklassniki.ru, has reached over 20 million registered accounts and over 6 million daily users.
The company generated revenues of $3.3 million in Q1 2008. The site reported 29.2 million unique visitors in May 2008.
In addition to header and sidebar banner advertising, the site now offers to display a text advertisement including an icon and text hyperlink below a user profile (see screenshot). The CPM is $0.5.
Its major competitors, Vkontakte, and Mail.ru‘s social network MoiMir (MyWorld) have 15.7 million and 20 million registered accounts, respectively. Vkontakte only recently started selling display advertisements on the site via Media Plus sales house.
By reaching this milestone, Odnoklassniki.ru is catching up by audience with the Russian web leaders, Yandex, Mail.ru, and Rambler, in just two years after launch.
Update 1: When comScore reports that Facebook is the fastest growing social network in the world, it forgets to take into account data for Russia-originated social networks Odnoklassniki.ru and Vkontakte. In fact, the fastest growing social network in the world is Odnoklassniki.ru. Its number of users has grown from 1.2 million in June 2007 to 20 million one year later.
Update 2: PaidContent.org reported that the Russian online ad spend will grow ten times in the next decade: from around $400 million in 2007 to $4 billion in 2017 by quoting a new report from investment bank Lehman Brothers. As a percentage of total ad spend, online one will increase from 4% to 13%.
Click to download Quintura’s visual search apps for iOS, Android and Symbian.