UK's Badoo pulls $30m for Russian launch, ahead of a home push

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Russian investor Finam has put $30m into UK-based social network Badoo for a 10% stake. The money is to build the service in Russia, where social networking market has reached around 10 million users in January.

Badoo’s social networking site with photo and video sharing has 12.7 million registered accounts, mostly in Latin America and Continental Europe. Badoo was launched from London in November 2006 and was the number two fastest rising search term on the Google Zeitgeist list for 2007. It will go up against several other russian sites including Odnoklassniki.ru, Vkontakte.ru and Moikrug.ru which have all attracted several million users each. And now the Russian version of MySpace, which launched only last week.

Badoo’s main pitch is that it carries no advertising, avoiding the kinds of issues Facebook had with Beacon. Instead, Badoo derives its main revenue from offering users the chance to pay to be popular. “We wanted to be advertising free in order to have a ‘clean’ site so our users weren’t subject to adverts which we know can be a turnoff,” said Neil Bryant, the managing director of Badoo told The Guardian last year.

They say 20% of Badoo’s 12.5 million users access the function once a month, or $1 or €1, in a blend of Digg and a Reuters ticker. Right now the £1 charge is waved in the UK, where the site has – incredibly – never formally launched. But Badoo is aiming to get traction by using celebrities with its UK launch next month.

According to Quintura, in 2005, Finam bought-out a 68.5% stake in Mamba, a leading online dating community in Russia with over 9 million registered accounts, which is rumored to share the same technical founders with Badoo.

  • http://www.quintura.com Yakov

    Social networks are getting mainstream in Russia and attracting users away from the current market leaders Yandex, Mail.ru, and Rambler.
    We reviewed top web apps and sites in Russia on our blog at http://blog.quintura.com/2007/12/27/top-russian-web-apps-and-sites-of-2007/

  • http://www.techcrunch.com/2008/01/21/russians-invest-30-million-in-social-networking-site-badoo/ Russians Invest $30 Million in Social Networking Site Badoo

    […] site Badoo, just got a $300 million valuation from new Russian investors. TechCrunch UK has the details: Russian investor Finam has put $30m into UK-based social network Badoo for a 10% stake. The money […]

  • http://blog.ivanpope.com Ivan Pope

    I guess at least Badoo is a bit snappier than Odnoklassniki, Vkontakte or Moikrug!
    “Been on Vkontakte today?”
    “Nah, that’s so last year. I’m on Odnoklassniki these days”

    • http://non orbit

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  • http://jp.techcrunch.com/archives/russians-invest-30-million-in-social-networking-site-badoo/ TechCrunch Japanese アーカイブ » ロシアの金融グループFinamが英国のSNS「Badoo」に$30M出資

    […] UKが伝えた詳報からの抜粋。: […]

  • Mike Butcher

    Heh – Nice one Ivan! Who knows? Russians may find it harder to say Badoo?

  • http://www.ojointernet.com/noticias/badoo-recibe-30-millones/ Badoo recibe 30 millones

    […] un inversor ruso, ha puesto 30 millones de dólares en la red social Badoo, consiguiendo una participación del 10% e la compañía inglesa. La inversión está […]

  • http://www.buildtheecho.net/2008/01/22/links-for-2008-01-22/ Build the Echo » Blog Archive » links for 2008-01-22

    […] TechCrunch UK » Blog Archive » UK’s Badoo pulls $30m for Russian launch, ahead of a home push Is it just me, or is there something Cold War-cartoonish about Russian VCs choosing to invest in a social networking site called “Badoo”? And what’s this paying to be popular B.S.?? (tags: buildtheecho web) […]

  • http://guide.arjunthomas.com/?p=13 Bangalore Eats, Drinks » Blog Archive » Russians Invest $30 Million in Social Networking Site Badoo

    […] site Badoo, just got a $300 million valuation from new Russian investors. TechCrunch UK has the details: Russian investor Finam has put $30m into UK-based social network Badoo for a 10% stake. The money […]

  • http://uk.techcrunch.com/2008/02/08/ecademy-the-ten-year-old-business-social-network/ TechCrunch UK » Blog Archive » Ecademy - the ten year old business social network

    […] a funny sort of way Ecademy is actually a bit like Badoo, the consumer social network where members pay $1 a time via mobile to vote themselves higher in the community. This is not a million miles away from the whole […]

  • http://uk.techcrunch.com/2008/02/25/badoo-breaks-13m-users-relaunch-soon/ TechCrunch UK » Blog Archive » Badoo breaks 13m users, relaunch soon

    […] a UI makeover, and the blogs don’t have RSS which feels like a basic omission. However, given they won $30m from Russian investor Finam last month, valuing the company at $300m, I’m sure we’ll be […]

  • http://non orbit

    hi all

  • http://www.facebook.com/people/Samy_Midou/730698966 Samy Midou

    nothing

  • http://eu.techcrunch.com/2010/01/05/social-network-badoo-is-banned-in-iran/ Social network Badoo is banned in Iran

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://www.techcrunch.com/2010/01/05/badoo-is-banned-in-iran/ No Flirting! Social Network Badoo Is Banned In Iran

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://www.family-learning-center.com/computers-technology/ted-crunch/no-flirting-social-network-badoo-is-banned-in-iran/ No Flirting! Social Network Badoo Is Banned In Iran | Family Learning Center

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://newsgeeks.info/non-classe/no-flirting-social-network-badoo-is-banned-in-iran No Flirting! Social Network Badoo Is Banned In Iran | News Geeks

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://www.channel321.com/2010/01/06/no-flirting-social-network-badoo-is-banned-in-iran/ No Flirting! Social Network Badoo Is Banned In Iran | Channel321

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://marketingtypo.com/2010/01/07/social-network-badoo-is-banned-in-iran/ Social network Badoo is banned in Iran « MarketingTypo.com

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

  • http://steven.macintyre.name/social-network-badoo-is-banned-in-iran/ Social network Badoo is banned in Iran | Steven Macintyre

    […] January 2008 Badoo pulled in $30m from Russian investor Finam for a 10% stake. The money was to build the service in Russia and other […]

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  • http://www.badootv.com Badoo TV

    Now there is Badoo TV
    [http://www.badootv.com Official website]

  • http://badoo jose

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  • http://wp.arcticstartup.com/2010/11/16/badoo-prepares-for-ipo-russian-founder-remains-incognito/ Badoo prepares for IPO, Russian founder remains incognito – ArcticStartup

    […] year into its operations Badoo got 12 million registered users and a year later a 10% stake in the company was sold yet again to Finam Capital for $30 million. The investment justified itself as Badoo today has six times more users and is preparing for an […]

  • http://thenextweb.com/socialmedia/2011/07/17/badoo-doubles-up-and-the-social-network-has-the-world-in-its-sights/ Badoo doubles up, and it now has the world in its sights - TNW

    […] early 2008, a Russian investment firm called Finam ploughed $30m into Badoo, in return for a 10% stake in the social network. This investment was extended to 20% in […]

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