Posted July 18, 2008 10:07 am by with 9 comments

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According to Mashable, Google just acquired Russian contextual ad company Begun for $140 million and grabbed a monopoly in Russia’s contextual advertising market in the process.

Begun is currently owned by two companies, leading to an interesting double-deal:

[Rambler Media Ltd] currently holds 50.1% of Begun. The transaction will consist of Rambler buying the remaining 49.9% stake in Begun from Bannatyne Limited, affiliated with the Finam group of companies, immediately after which Rambler will sell 100% of Begun to Google subject to certain approvals and conditions precedent for a total cash consideration of US$140 million, of which US$69.9 million is attributable to Bannatyne, with customary closing adjustments.

Anyone know how similar the Russian language is to Klingon? 😉

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  • The problem is that Russia is corrupt beyond belief. After the fall of communism there a lot of wealthy people came in and took over utilities and many other hi dollar businesses. It will be interesting to see how business pans out for Google in that country.

  • Corrupt or not, what a good purchase for Google. They now have the only company in Russia supplying ads to a rapidly growing advertising medium. Sounds pretty good to me. Can I buy more google?

    Erik’s last blog post..Surrounded by Freelance Entrepreneurs

  • The local hires by Google will ensure that they survive in the so called corrupt system.

    Travel Point’s last blog post..The Samba of Brazil

  • Corrupt or not its another country that Google is acquiring market share with, its the world wide web and that means that Google must control the world to control the web.

  • PS3

    There are clearly a lot of extremely rich individuals in Russia and corruption may have played a part in them. Nonetheless, what interests me more is the extent of internet access to the working man over there, what sort of coverage do they have?

  • Google keeps on gobbling them up. Bet they wish they could make inroads like this into the Chinese market. Their intent is clear however. Asia WILL eventually fall to the might og Google….

  • Google is just trying to gain market share to the Russian search engine giant, Yandex…must they be #1 everywhere?

    Nick Stamoulis’s last blog post..Social Blogging Can Attract The Masses

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