i-Jet Media investment
25% stake in Russian social games publisher to be sold.
The largest social games publisher and distributor in Russia and Eastern Europe, i-Jet Media, holds negotiations with a few investment organizations over selling 25 per cent of the company.
Co-Founder and General Producer of i-Jet Media Alexey Kostarev explains that the funds will be used to encourage the company's faster development and make it enter new markets in the most effective manner.
"The company is profitable at its current level of development. We cover all the operational expenditures ourselves and are not limited in the current progress in terms of resources. At the same time, we are aware that we need additional investment to buy game developers on some local markets in Latin America, North America, and a few other countries. That is to ensure our global growth, and enter local markets much faster than if we decide to grow evolutionally," Alexey Kostarev says.
According to the information made public today, i-Jet Media is going to call an ivestment round on the assumption that the company is estimated at $100 million by unaffiliated investors, in October or November 2010.
i-Jet Media is an international social games distribution network. Its portfolio includes 70 games by various developers published in 30 social networks all over the world, and more than 60 million users. Nowadays, the company takes an active part in developing European and Asian markets, as well as mobile social games service. The game Happy Harvest (Happy Farmer) launched in Russia in 2009 gained 10 million users and $20 million during less than one year, and was honoured with a Google Trend prize as the best game of 2009.
According to Alexey Kostarev, the main feature of i-Jet Media is its own unique tecnhologallowsstribution platform which permits to install detached developers' games on any social network almost at once.
Alexey Kostarev states that the best solution for i-Jet Media would be rasing funds from both Russian and Western investors. In this connection, it will be recalled that a delegation of Silicon Valley business leaders and venture capitalists lead by California Governor Arnold Schwarzenegger arrived to Russia with a visit on Sunday. Schwarzenegger has already praised Russia as a "gold mine" for foreign investors.
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