MainMarket in Brief

TASS Group sells MAPS.ME for $20.5 million

November 2, 2020, 11:30 (UTC+3)|
440 Group will sell 100% of the MAPS.ME map service for 1.6 billion rubles. (equivalent to $20.5 million)

The buyer is Daegu Limited, a member of the group (a global instant money transfer system that provides services to corporate clients in insurance, tourism, e-commerce, finance, etc.). The headquarters of the Group is located in Switzerland.

The sale of MAPS.ME is a part of Group’s strategy to focus on the development of core assets, where the service is perceived as non-core. Group acquired MAPS.ME in 2014 for $6.9 million. The service has surpassed the mark of 140 million installs and 10 million monthly active users. In 2019 MAPS.ME revenue amounted to $2 million.


Eugene Lisovsky, CEO of MAPS.ME

Original (in Russian)



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