The Russian internet investment firm ru-Net of Leonid Boguslavsky, which has led $100 million OZON.ru investment, joined $60 million investment round in e-commerce platform MJ Group in Vietnam together with Rebate Networks of Germany and IDG Ventures Vietnam.
MJ Group was formed by merging Vietnamese companies Diadiem.com, online mapping service and Nhommua.com, online shopping service. MJ also includes mobile application company Two.vn and online advertising service Two Media. In 2010, Rebate Networks invested in Nhommua. IDG Ventures invested in Diadiem.
MJ Group has 500 employees in Hanoi and Ho Chi Minh City. MJ is headed by CEO Tom Tran. Vietnam has more than 25 million Internet users out of 86 million country population.