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IT Territory Founder to Pocket $85 Million from Mail.ru Group IPO

Files under: News, Web 2.0
Posted by: admin @ 02:21 [29. 10. 10]

Igor Matsanyuk, founder of online and casual games company IT Territory, will receive up to $85 million from a sale of his 1.6 percent stake in Mail.ru Group at London IPO, according to newspaper Vedomosti. The paper said that Igor Matsanyuk invested just $0.3 million in IT Territory six years ago, which will imply over 250x return on investment.

38 y.o. Igor Matsanyuk founded IT Territory in 2004. Its first game was a free, browser-based virtual reality MMORPG – Territory. In December 2007, IT Territory became part of Astrum Online Entertainment, which was funded by Digital Sky Technologies (DST). In November 2009, Astrum Online merged into online portal company Mail.ru.

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