Russian Search Engine Rambler Raises $40 Million In IPO

Television broadcaster Rambler Media controls the second-largest search engine in Russia: Rambler, launched in 1996. Bloomberg: Rambler “is betting on the growth and convergence of Internet, mobile and multimedia technologies. Some Rambler television programs let viewers participate through the Internet and text messaging over mobile phones.” The IPO provides funding needed for expansion; the British-registered company’s IPO-based value is $153.5 million.

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