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Metabar, Conduit of Russia, Raises $1 Million from Runa Capital

Files under: News, Web 2.0
Posted by: admin @ 09:37 [15. 04. 11]

The seed and early-stage venture capital fund Runa Capital of Serguei Beloussov has invested $1 million in toolbar builder Metabar.The investment from Runa shall help Metabar to employ its first-mover advantage in the Russian internet market of some 50 million users. Metabar business model is similar to one of U.S./Israel company Conduit with revenues derived from search-based advertising and shared with website publisher.

Founded in 2010, Metabar is managed by CEO Michael Ushakov. With Metabar, webmasters can build Internet browser toolbars for their websites to increase web traffic and user loyalty. Metabar currently supports Internet Explorer and Mozilla Firefox browsers. Metabar integrated Yandex-powered search as part of its core technology. Previously, Michael Ushakov was Advisor on Internet projects at Runa Capital and PR Director at Yandex.

Founded in 2005, Conduit has more than 245 million end-users and 260,000 website publishers. Conduit, which raised funding from Yozma Capital and Benchmark Capital, has been reportedly in $1 billion acquisition talks.

Metabar joins Runa Capital investment porfolio of OnAir3G (Telefir) and Hivext.

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