Mail.Ru Group Company News - Gaming segment listing may unlock value for Mail.Ru Group
Media reported that Mail.Ru Group considers IPO of its gaming segment on a US exchange targeting valuation of USD 2.5-3 bn. Gaming industry became one of the main beneficiaries of Covid-19 related lockdowns, as the global gaming market grew by 14% yoy in 2Q 20 vs. a 3% yoy growth in FY 19. This was also true for Mail.Ru Groups gaming division, which grew by 48% yoy in 2Q 20 and become the largest revenue generating segment.Mail.Ru Group is an Internet company based in the Russian Federation. Co. operates the email service [email protected] and two IM networks in Russia - Mail.Ru Agent and ICQ. Co. operates two Russian-language online social networking sites: Moi [email protected] and Odnoklassniki.ru, and owns a strategic minority equity stake in the social network Vkontakte. Co. is also engaged in developing projects in E-commerce and operating more than 40 thematic vertical sites, targeting various user categories. Co. is also Russia's predominant online games company. Co. maintains a portfolio of online games which includes 34 MMO games and over 30 games for social networking sites.
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