"We control such a big audience already, it makes sense for applications of smaller size to connect with us, and it makes sense for advertisers," Grishin said. "We want to make it easier for them to access the Russian-speaking audience on mobile."
While the company already offers desktop display advertising solutions, it wants to be more innovative in the mobile space, Grishin said.
"Innovation on mobile is better," he added. "There is user attention already in mobile and we're capturing that attention."
Several clients that already use Mail.ru display ad products are lined up to use myTarget. Those clients include Uber, Unilever, Coca-Cola, P&G, and Ford, according to the company.
Currently about 100 employees are working on myTarget, Grishin said, as the technology was all developed in-house. The main office is in Moscow, with other offices in Amsterdam and Silicon Valley, to connect with European and U.S. clients. But Grishin has bigger plans for myTarget.
"It can be a solution for advertisers from all over, like China," he said. "A lot of Chinese developers, especially in the gaming world, spend a lot of money. For us, this is an interesting way to integrate ourselves into the global advertising community."