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Wikimart is Russian online shopping mall which made it to the list of Forbes 30 Internet companies in Russia under the number at number 13 with $90 million in revenue. The internet business announced today that it raised $30 million from Tiger Global Management and an undisclosed Russian investor, according to the Russian newspaper Kommersant.
Tiger Global Management, which put in $18 million will own 55 percent of the company, whilst the founders will keep 23 per cent, according to the co-founder of WikiMart Kamil Kumakaev.
Tiger Global Management is an active investor in Russia, whose previous investments included Yandex, Mail.ru and BigLion (daily deals site).
Wikimart is an online platform for smaller merchants to sell their products, which currently has over 3800 shops, and 2.4 million products.
WikiMart’s competitor Ozon has twice as much revenue, and is also ahead financially: in September 2011 it has raised $100 million, and acquired online shoe retailer Sapato (considering that Sapato raised $20 million the price tag of the acquisition must be higher).
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