Mail.Ru Group is the largest Internet company in the Russian-speaking world and one of the leading Internet companies in Russia. Now it seems the company is ready to expand to the rest of the world. Yesterday, it announced the brand it is to expand into international markets with: My.com.
In a Google translation of his speech, Dmitry Grishin, CEO of Mail.Ru Group said "Today our services to more than 90% of the Russian internet audience. We have made progress in the Russian-speaking Internet, but do not intend to stop there. Therefore, more than a year testing the individual products in foreign markets. Now is the time when all these actions should be carried out by a single name, which will be more effective abroad. So we decided that we need a new global, short, memorable name. And we are pleased to present my.com."
The Google translation continues - At Mail.Ru Group has experience of entering new markets. The company's portfolio includes several dozen popular all over the world of browser and client games like Allods Online, Perfect World, Lord of the Rings Online, Warface. Mail.Ru Group has offices in several countries, including Germany, Israel, Latvia. The company has also set up a center of localization, which are engaged in the translation and adaptation of the service interfaces and projects for overseas markets."
But I believe this should be good news for its investors especially Naspers who owns 29% of mail.ru. As reported in its last financial report, Nasper's share of Mail.ru reported revenues grew by 66% to R1.1bn ($0.13bn) and core headline earnings were up 139% to R364m ($42m). Tencent, another Naspers property based in China, the largest and most used Internet service portal owns 7.8% of mail.ru. An then again Naspers owns 34% of Tencent.
It is unclear what My.com is but this should soon unfold very soon.