this week, the Russian flash site KupiVIP get $38 million financing, the financing includes several heavyweight investment institutions. Such as, IntelCapital, BaldertonCapital and AccelPartners, where IntelCapital is the largest investor. Company CEO Oskar Hartmann said the company’s turnover reached $300 million this year.
in Russia last year has won Europe’s largest Internet market crown. With this momentum, especially in the country’s growing middle class and broadband usage, the market is increasingly attractive, investors naturally touch the market. At the same time there are some examples, such as search giant Yandex and Internet Co Mail.Ru has been listed. So investors are eager to catch a big fish.
KupiVIP was founded in October 2008 as an online fashion discount store. Users join online consumer club. The financing will help its expansion in the Russian market, including the introduction of a more perfect KupiVIP flash purchase site, luxury sites and logistics business.
we analyze the status of KupiVIP:
1 currently has a registered user of 8 million. Respectively in ShopTime.ru (operating the international brand goods) KupiVIP.ru (operating VIP users) KupiLuxe.ru (operating luxury goods) registered
2 this year, turnover reached $300 million, is expected next year’s turnover to $1 billion
3 of the financing of 38 million, thus raising the total amount of funds raised to $KupiVIP.
4 forecast Russia’s online trading market in 2020 to a total valuation of $400 to $60 billion
5 program for two years IPO
the financing may help KupiVIP become the largest e-commerce company in the history of russia. As for foreign expansion plans, the company founder Hartmann is more concerned about the domestic market and the industry, rather than blindly open up new markets and areas. As Russia’s first online user club, should continue to tap the greater market potential.
via I dark horse by innotition