Digital Sky Technologies (DST), Internet investment group in Russia run by Yuri Milner, has obtained a 50.6% majority stake in Mail.ru by acquiring an additional 15% stake in the company for $300 million from Tiger Global Management, reported business daily newspaper Vedomosti. As a result of the deal, Mail.ru was valued at $2 billion. DST sold a 35% stake in itself to Alisher Usmanov, founder of Metalloinvest and owner of Kommersant publishing house to finance the deal, the daily said. The online newspaper Gazeta.ru, which’s part of Kommersant, was recently merged into LiveJournal-owner SUP.
Mail.ru is Russia’s leading web-site by daily reach with 6.2 million daily visitors and 14.7 million monthly visitors, says TNS Web Index.
According to Mail.ru’s 32%-owner Naspers of South Africa, Mail.ru generated revenues of $56 million with EBITDA margin of 64% in 2007. Mail.ru is the 3rd largest Russian Internet company by revenues, after Yandex and Rambler.
Digital Sky Technologies (DST) is a major investor in Russian internet that owns significant stakes in two leading Russian social networks Odnoklassniki.ru and Vkontakte, the leading Russian online recruitment site HeadHunter, electronic payment provider OE Investments, and the others.