Breaking: Yandex acquires Russian professional networking site Moikrug

StartupSquad has learned from a recent tipoff that Yandex, the leading search engine in Russia with some 5m daily visitors, acquired Moikrug or MyCircle, the largest social networking site for Russian-speaking professionals in other words LinkedIn for Russia. The rumored acquisition price is up to US$ 5m including cash and Yandex stock options. Moikrug is said to have some 100k registered users. Yandex recently reported revenues of $ 72m in 2006 (of which 80% is from search ads).

The above acquisition seems to be in reaction to Xing’s recent acquisition of eConozco that I had written just couple of days back.

Advertisements

4 Responses to “Breaking: Yandex acquires Russian professional networking site Moikrug”

  1. StartupSquad » Blog Archive » Consolidation in European Search space; Russians get Ukrainian search engine Says:

    […] META gets 1.5 million and 6 million searches every month. Meta had reported revenues of $1m in 2006, mostly from Internet advertising, and holds about 20% of Internet advertising market in Ukraine. Digital Sky and Russian Funds will invest additional $1 million into Meta to improve its search engine. Meta is said to be the only viable competitor to Yandex and Google in Ukraine. […]

  2. Boot Socks Says:

    let me ask, i write coment on another post, but why discard ?

  3. Room Divider Curtain Says:

    cool post guys.

  4. Large Rug Says:

    nice.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: