Odnoklassniki.ru
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DST buys Russian social network Odnoklassniki.ru

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The Internet investment group Digital Sky Technologies (DST) has acquired Odnoklassniki.ru, having previously owned an 80 percent interest in the Russian social network.

The deal, reported to be valued between $14m and $28m, according to local newspaper Vedomosti, sees Odnoklassniki.ru founder, Albert Popkov, relinquish his remaining 20 per cent of the company. Popkov had raised several million dollars from DST over various funding rounds between 2006 and 2007.

DST is said to be mopping up many of the companies that it already has an interest in ahead of possible plans for an IPO, which could be valued at as much as $6 billion. The investment group recently acquired full control in Mail.ru from Naspers, for example. DST has holding in lots of companies in the social web space, most notably investing in Facebook, Groupon and Zynga.

Founded in March 2006, Odnoklassniki.ru is said to gave generated revenues of $4m in 2009 from display advertising, paid services, contextual links and social games, with a net income of $11 million in 2009. The social network claims 45 million registered accounts, attracting 10 million daily visitors.

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