Culture | 2 min

We’ve Surpassed 20 Million Users & Raised $2 Million from Mail.Ru

mailrugroupBack in September we announced that we had reached 10 million users. Today, just five months later, we’re excited to announce that we’ve doubled that number and surpassed 20 million registered users. We’re so thankful to all of you who have created and shared Movies and spread the good word about Magisto, helping us reach this major milestone!

Our 20 million users are uploading 29 million videos and photos per month and racking up 18 million views per month. 20 percent of Movies created are made up of photos only (glad to see you’re liking our new photos only feature!) and Facebook is the most popular method of sharing Movies.

We’re also excited to announce today that we’ve raised an additional $2 million from Mail.Ru Group, the Russian Internet pioneer and one of the world’s largest Internet companies. As part of this deal, Magisto has also integrated its offering into Odnoklassniki, the second largest social network in Russia, reaching 33 million daily unique visitors. This investment follows $13 million in Series C funding from investors including Qualcomm Ventures, SanDisk Ventures, Magma Venture Partners and Li Ka Shing’s Horizons Ventures that we announced back in October.

Our CEO, Oren Boiman, explains in a press release that went out this morning, “This investment and the integration with one of the world’s largest social networks reflect the universal appeal of Magisto: namely, that sharing experiences, emotion and stories is a basic human impulse, regardless of geography and language. When you combine that elemental need with the ubiquity of the smartphone and the simplicity of Magisto, you arrive at the powerful nexus that is catapulting our company.”

Mor Yegerman, Head of International M&A at Mail.Ru Group, sais, “Mail.Ru Group has always focused on pushing the envelope with new technology and products that meet the evolving need of our users. As we continue to look beyond the Russian market and think more globally, Magisto perfectly maps to that innovation-focused vision. Their growth has been impressive and we expect Odnoklassniki users to fall in love with it as millions already have.”

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