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Pinme.ru to underpin social networking in Russia

Pinme.ru to underpin social networking in Russia
Internet fans in Russia are to get a new networking website enabling users to share consumer opinions and rate goods. But they'll first have to get an invitation to join pinme.ru

Russian venture funds behind the online retail and networking projects Ozon.ru, KupiVip.ru and Groupon Russia are investing $1.3 million in a Russian prototype of American pinterest.com.The services of pineme.ru are focused on blogging and sharing in the form of graphics and video rather than texting.“Apart from images pinme.ru will allow video content overview and downloads” says Alexandr Danilov Pinme.ru General Director. He adds that to become a member of the new social network and use its tools users will have to receive “an invitation from an existing user and be a member of Facebook, Vkontakte, Odnoklassniki.ru and Twitter”.Venture investors has already invested $1,3 million with total investment planned to be around $6,7 million. Lada Sherbakova co-investor from Fast Lane Ventures believes the capitalization of the new social network “will grow to $100 million” while its American prototype pinterest.com was valued at $200m after 1 year online. Techcrunch.com says the value of the American online social network was in the range of $125-200 million. According to TNS advertising statistics the number of Yandex.Foto users has increased by 18% in 2011 year on year and now totals 9.7 million. The idea and services in pinme.ru will find their audience says Ochir Mandzhikov from Yandex“Russian internet users are keen on sharing and loading content such as photos and video.”Alexandr Danilov says the network will start active befriending in a year and will get its revenue from advertising. Another important strategic feature of pinme.ru could be design and platform “created for opinion and discussions of consumer patterns and various product ratings” says Christian Leybold from BV Capital.

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