Russian Internet Giant Mail.Ru Launches New Gaming Division

April 25, 2017 — 10:50
— Update: Apr. 25 2017 — 08:11

Russian Internet Giant Mail.Ru Launches New Gaming Division

April 25, 2017 — 10:50
— Update: Apr. 25 2017 — 08:11
Yevgeny Razumny / Vedomosti

One of Russia’s top internet companies has announced the multi-million-dollar launch of a new gaming division.

Mail.Ru Group has earmarked $100 million dollars to invest in joint ventures with game developers in Russia and abroad over the next two years, the Vedomsti newspaper reported Tuesday.

Ilya Karpinsky, a managing partner of the new project, said the company was primarily interested in mobile games, but could expand into the PC and console market for “the right project.”

Karpinsky said that developers would get the full benefit of the Mail.ru group’s existing resources and infrastructure, as well as financing.

Founded in 1999, Mail.ru currently controls Russia's most popular social network, VKontakte. The company was valued by Forbes at $4 billion in February 2017.