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Badoo Valued at $2 Billion; Sequoia to Invest in Badoo?

Files under: News, Web 2.0
Posted by: admin @ 08:59 [9. 04. 11]

Sequoia Capital partner, Forbes Midas List #2 Michael Moritz has recently flown in to London to meet Badoo founder Andrey Andreev, according to May issue of Wired UK magazine. The valuation of Badoo is being discussed at around $2 billion, the magazine said. Badoo IPO is also being considered.

Launched in 2006, social dating network Badoo has over 113 million members from Brasil (14 million), Mexico (9 million), France (8 million), Spain (6 million), and many other countries. By adding over 100,000 users a day, Badoo in the world’s fastest growing social dating site. One-fifth of Badoo members pay to promote themselves on the site, according to Badoo COO Bart Swanson.

Russian online services SpyLog, Begun and Mamba founder Andrey Andreev launched Badoo in Spain in November 2006. London-headquartered Badoo now employs 200+ around the world. Russian Finam Technology Fund I has a 20% stake in Badoo.

Badoo pioneered ‘social dating‘ based on user location (dating by satnav) that is a combination of social networking and online dating with use of location-based information from users’ smartphones and computers.

Badoo has the second most popular application on Facebook with over 70 Million MAU (Monthly Active Users), behind only CityVille by Zynga.


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