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INTERVIEW: Facebook of Latvia, With More Members than Population, Starts New Businesses

Facebook of Latvia, With More Members than Population, Starts New Businesses

What does a com­pa­ny do to grow when it has 100% of its mar­ket and doesn’t want lose its employ­ees?  It starts new busi­ness­es.  With over 2 mil­lion mem­bers in a coun­try of 2 mil­lion peo­ple The Draugiem Group need­ed new ideas to grow.  They chose to offer employ­ees seed mon­ey to start new busi­ness­es rather than lose them to anoth­er com­pa­ny.  It has helped Draugiem grow into a $27 mil­lion dol­lar com­pa­ny with offices world­wide. We spoke with Davis Sik­snans, the man in charge of Draugiem’s new ven­tures. You can lis­ten to Davis’s Inter­view here and read it below: Roy:     My name is Roy Weiss­man from MediaJobs.com. We pro­vide job seek­ers the strate­gic insight into their job search. Today we’re speak­ing with Davis Sik­snans from Draugiem Group in Latvia, who has a very unique busi­ness mod­el. The Draugiem Group is an umbrel­la orga­ni­za­tion that hous­es the nation­al social media plat­form of Latvia, and cur­rent­ly incu­bates 16 star­tups. So Davis, you guys have a pret­ty inter­est­ing busi­ness.  You’re the Face­book of Latvia, but you’re many more things than that.  So maybe you can give us a lit­tle bit of a sense or a his­to­ry of how this all evolved, and…

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