Dmitry Grishin, the 34-year-old co-founder and CEO of the Mail.ru, the largest Internet company in the Russian speaking world, finds a new path for development. His global investment company Grishin Robotics, founded in the summer of 2012 and headquartered in New York, USA is successfully implementing its goal of blowing $25 million on personal robots.
Almost ten years ago nobody believed in Russian IT sector and emerging computer and communication companies. Nowadays it is already not a great surprise to domestic and foreign investors that Mail.ru Group (RL9A:GR) successfully completed a USD 912mn IPO, placing shares at the top end of the price range, Bloomberg reports. Moreover, the stock gained 30% in the first trading session, according to Bloomberg.
Mail.ru placed 32.9million shares (implied free float of 16%) at USD 27.7 each after reaching a reported 20X oversubscription. On Friday the stock rose by another USD8.3 to USD 36/share, giving it a market capitalization of almost USD 7.1billion.
Vedomosti newspaper reported that Digital Sky Technologies (DST), controlled by Yuri Milner and Grigoriy Finger backed by Russian billionaire Alisher Usmanov, had split its Russian and overseas assets. As a result, the company’s domestic assets which included Mail.ru, the Odnoklassniki social network, ICQ (recently bought from America Online) and minority interests in VKontakte and OSMP and E-port payment systems, have been merged into a holding company called the Mail.ru Group. Overseas assets, including shares in Zynga, Groupon and 10% in Facebook, have been spun off into DST Global. The restructure was in the run-up to an IPO of Mail.ru Group on the LSE, due in October 2010. Shareholders value the company at USD 5-6 bn.
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