Yandex NV (YNDX) Acquires “IMDb Of Russia” KinoPoisk
Yandex NV (NASDAQ:YNDX) has acquired a top movie website called KinoPoisk. KinoPoisk is the top online movie website in Russia. The deals of the transaction was undisclosed. KinoPoisk was coined as the “IMDb of Russia.” Yandex will be integrating cinema search features into their service by creating a video recommendation service. Yandex will offer tips on where to see films locally. They will also offer ticket and DVD purchasing options.
Yandex NV (NASDAQ:YNDX) is rumored to be in talks with Russian providers of premium video on-demand services. KinoPoisk was founded in 2003 and is known for aggregating film reviews and movie industry news. KinoPoisk has over 100 million movie ratings and three million new ones are added per month.
Yandex NV (NASDAQ:YNDX) said that the familiar and beloved KinoPoisk will not be disappearing. KinoPoisk is believed to be worth around $50 million. This number is based on the amount that the KinoPoisk’s primary investor AlloCine was looking for when they wanted to sell a 40% stake in the website.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry