USM Holdings is a leading global investor in companies in the digital space. Its deep understanding of the internet sector has played a key role in the success of its businesses and the development and diversification of internet services.

USM Holdings is a major shareholder in Mail.Ru Group, the largest company in the Russian-speaking internet. The group owns a 17.9% economic stake and has 58.1% voting power in the business. USM Holdings is also a prominent investor in high-growth private businesses in the global internet and hi-tech sectors.

USM Holdings recognises the expansion potential of e-commerce, social networks, online video, online gaming, mobile internet and online advertising. Group

Founded in 1998, Mail.Ru Group is the number one internet company in the booming Russian-speaking internet market. Mail.Ru Group's sites reach approximately 90% of Russian Internet users on a monthly basis (TNS, December 2013) and the Company is in the Top-3 of the largest Russian internet businesses, based on the number of total pages viewed (comScore, December 2013).

In line with the Communitainment (Communications + Entertainment) strategy the company is moving rapidly to build an integrated communication and entertainment platform. The company operates two of the three largest Russian-language online social networking sites (Odnoklassniki and Moi Mir (or "My World")). The company also operates the two largest instant messaging networks in Russia (Mail.Ru Agent and ICQ), Russia's leading email service and Russia's largest internet portal, and Russia's largest online games platform.

Mail.Ru Group holds an equity stake in Qiwi (1.31%), a next generation payment services provider and it made a number of small venture capital investments in various internet companies in Russia, Ukraine and Israel.

In 2010, Mail.Ru Group successfully completed an IPO on the London Stock Exchange worth c. US$ 92 million. Going forward, Mail.Ru Group is looking to grow internationally under the name of

Portfolio Investments

USM Holdings is a major investor in internet businesses globally, in line with its firm belief in the continued growth of social networking and e-commerce. USM Holdings has gained international prominence with stakes in some of the world’s leading and most valuable internet assets, including Spotify, Zalando, ZocDoc, Airbnb, Alibaba and

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