The leading Russian media and entertainment group ProfMedia has invested $3.3 million in exchange for a 25% stake in online video content service ivi.ru owner Digital Access, reported newspaper Kommersant. The investment valued Digital Access at $10 million pre-money. The Russian online video advertising market shall reach $30 million in 2011.
Launched in February 2010, ivi.ru has 4.8 million monthly visitors. Digital Access distributes video content from its licensed catalog of 45,000 titles. Digital Access is majority owned by ru-Net Ltd. of Leonid Boguslavsky.
ProfMedia owns online portal Rambler and entertainment publisher Afisha as well as television channels TV3, 2X2, MTV Russia, and other media and entertainment companies in Russia.