Get our rare newsletters
Contact GoalEuropeIf you have questions or need a consultation, get in touch.
Russian startup DataMind, a real-time bidding platform for advertisement, has announced that it has raised $5 million (~3,8 million euros) from Tinkoff Digital, according to Vedomosti. When Tinkoff and Goldman Sachs announced the creation of the Tinkoff Digital venture fund in July 2012, Tinkoff stated that this will be his “last feat” and that he intends to be involved with the day-to-day operations of a company, as opposed to maintaining a hands-off role. Tinkoff Digital announced that it will have $20 million (roughly 15,3 million euros) to invest, so this sum represents 25% of available funds, clearly no small figure.
According to Datamind’s site, real-time bidding (RTB) accounts for 47% of advertising in the United States. RTB is popular among leading brands in the U.S. and western Europe, but DataMind represents an attempt to bring the technology to the Russian market on a large-scale basis. Vedomosti states that, while the RTB was a $1,9 billion-industry in 2011 in the United States, the technology had yet to make an appearance in Russia. Given that Russia remains the largest internet-using country in Europe and has that usage there grew at an incredible 14% rate from 2010 to 2011, there is large amount of untapped potential.
+44 (020) 3290 3544
vita at goaleurope dot com