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Mail.ru Group sells MAPS.ME for $20.5 million

November 2, 2020|
51

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

The sale of MAPS.ME is a part of Mail.ru Group’s strategy to focus on the development of core assets, where the service is perceived as non-core.

Mail.ru 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.

Contacts:

Eugene Lisovsky, CEO of MAPS.ME

Original (in Russian)

Subject:

#deals

Companies:

#Mail.Ru_Group

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