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Badoo preparing for IPO

Files under: News, Web 2.0
Posted by: admin @ 04:53 [12. 11. 10]

Russian Internet enterpreneur Andrey Andreev, who created Russia’s leading online dating service Mamba, is aiming for a billion for his global social networking and dating service Badoo, according to site Forbes.ru. Badoo that shall generate revenues in the range of $200 million this year is preparing for IPO, the site says.

Andrei Andreev, who sold Mamba to financial investment group Finam for $20 million in 2005, subsequently founded Badoo in London in 2006. Badoo raised $30 million from Finam in 2007. Finam now owns 20% stake in Badoo.

Badoo, which has over 80 million registered users, is being used in over 240 countries and 18 languages to flirt, chat and meet new people. The users pay to raise their profiles as well as for virtual gifts.

Andrei Andreev is a serial Internet entrepreneur who founded web statistics service SpyLog (sold to Activist), contextual advertising service Begun (sold to Finam), dating service Mamba (sold to Finam), and then Badoo.

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