Lithuania’s Forticom Invests In Russian Social Networking Site Odnoklassniki.ru
By Joseph Weisenthal - Tue 25 Sep 2007 11:53 AM PST
Lithuania-based Forticom, the operator of social networking site One.lt, has taken a 25 percent stake in Odnoklassniki.ru, a Russian social networking site for classmates, according to CNews. Forticom’s cost of acquiring the stake is unclear, although analysts estimate the value of Odnoklassniki.ru, which has 4 million registered users, at between $2 million and $30 million, which of course says nothing. The move allows Forticom entry into the Russian market, where it had not previously been active.
Posted in: Social Media, VC+M&A
