First Russian MySpace now Finam Invests $30 Million in Badoo

Since MySpace was brought for over $500 million we have seen social networks continue to pop up everyday, now we have more breaking news just days after hearing that MySpace have launched a Russian version of the popular social networking site.

The latest news is of a Russian financial group called Finam investing $30 Million in Badoo, this might not be as much as the MySpace deal a few years ago but “Badoo is a global social network popular in Latin America and Continental Europe with 12.7 million registered accounts”.

This $30 Million only gets Finam a 10% stake in ownership of Badoo, this is not the first time Finam has entered the social network industry as they brought a 68.5% stake in a dating community called Mamba back in 2005.

Via mashable