Investors acquire Russian e-lance site

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BenQ MID Peeped At IDF

Some interesting movement coming out of Russia yesterday. The leading Russian online recruitment website HeadHunter and private equity investor Digital Sky Technologies have each acquired 20% of, an online workplace for freelance specialists not unlike, for an estimated sum of $0.4 million.

Free-lance has some 100,000 registered users. Digital Sky Technologies (which I’m having trouble finding a direct link to) is known to be a significant shareholder of Russian Webmail site and sold a 15% minority stake in the company to Naspers of South Africa for some $85 million in January 2007. I understand Mangrove Capital Partners met with two founders of Free-lance back in the summer, but appeared to pass on the deal.


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