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UK Social Network Badoo Gets $30M to Enter Russia

Ad-free service was Google's second-fastest rising search term in '07

By Laila Weir,  Newser User

Posted Jan 21, 2008 3:57 PM CST

(Newser) – UK social networking site Badoo has received $30 million to build its service in Russia from Russian investor Finam, giving Finam a 10% stake in the company. The network will face competition from several Russian sites and from the local version of MySpace, which launched last week, reports TechCrunch. Badoo has one attribute that sets it apart from competitors in the crowd of social networking sites, though: It’s ad-free.

The network makes money with a pay-for-popularity service that lets users pay $1 or €1 to move their profile to the top of a changing list of profiles. The company says 20% of its members use the service monthly. Although relatively small with 12.7 million members, mostly in Latin America and Europe, Badoo was Google’s second-fastest rising search term in 2007.

  (badoo.com)
Badoo's Russia service will face competition from MySpace Russia, as well as several local social networking sites.
Badoo's Russia service will face competition from MySpace Russia, as well as several local social networking sites.   (Associated Press)
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COMMENTS
Showing 1 of 1 comment
badoo
Nov 7, 2011 5:30 AM CST
Badoo is a seriously weird site my brothers. It is an unexplainable phenomena, why it is so popular.

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