Movements in European space; Russians get Ukrainian search engine; Ozon Funded

META: Digital Sky Technologies and two Russian private equity fund managers from Russian Funds Investment Group have acquired a 63.3% majority stake in META, which is one of Ukraine’s leading web portal and search engine. The deal is supposed to be worth around $3 million.

Digital Sky Technologies is also behind some of the other major Internet properties in the region including, the 3rd largest portal and email service in Russia. Back in 1999 – 2003, Russian Funds were a majority shareholder of Rambler, the 2nd largest Russian portal and search engine.

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.


Ozon: It was couple of months back that Index ventures had closed it’s €359 million Index Ventures IV fund, and the VC firm is already onto investing heavily in Eastern European region. Index and Cisco combined to invest $18 million in, which supposed to be Amazon of Russia. Ozon sells more than 260,000 items in 12 categories ranging from books, electronics, and home décor. The site gets over 120K unique visitors per day and processes more than 3,000 orders per day.



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