Odnoklassniki.ru Founder Albert Popkov to Sell its Interest to DST

Files under: News, Web 2.0
Posted by: Quintura @ 03:33 [24. 08. 10]

The leading Russian internet investment group, Digital Sky Technologies (DST), which owns 80 percent interest in leading Russian social network , is acquiring the remaining 20 percent stake from Odnoklassniki.ru founder, Albert Popkov. The deal could be valued at between $14 million and $28 million, according to newspaper . Albert Popkov raised several million dollar from DST over few funding rounds in 2006 – 2007.

Having recently acquired full control in Mail.ru from Naspers, DST, which plans IPO in London in 2011, plans to consolidate its holdings in other Russian internet ventures ahead of the IPO. DST could be valued at $6 billion at IPO next year.

Founded in March 2006, generated revenues of $49 million in 2009 from display advertising, paid services, contextual links and social games. Odnoklassniki.ru‘s net income reached $11 million in 2009.

Odnoklassniki, which has 45 million registered accounts, attracts daily users.

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