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Home » Innovation » ecommerce » Russian Internet holding KupiVIP raised $38 million from Intel Capital and others
Russian Internet holding KupiVIP raised $38 million from Intel Capital and others
Posted by: Natasha Starkell
Tags: accel,balderton,ebrd,intel,Kupivip Posted date:
June 21, 2012 |
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The Internet holding KupiVIP, originally a flash sales shopping club was founded by Oscar Hartmann, raised $38 million from Intel Capital, Acton Capital Partners, EBRD as well as existent shareholders Accel Partners and Balderton Capital. The total funding raised by KupiVIP to date is $124 million.
There are other online shopping platforms in the holding, including KupiLuxe.ru and ShopTime.ru, and it has over 500,000 daily visitors.
Accel, and Intel are not new to investing in Russia. Accel has recently single-handedly backed Avito.ru, the online free classified portal which may steer in the direction of becoming Russian eBay. Intel Capital’s portfolio includes Altergeo, Speaktoit, RockFlow Dynamics and DeNovo.
According to Reuters, KupiVIP plans to raise $120 million in an IPO on New York Stock Exchange in two-years time, and expects to grow its turnover to $1 billion.
About the author
Natasha Starkell
Twitter LinkedIn Facebook Google+ Natasha Starkell is the founder and CEO of GoalEurope, advisory firm focusing on technology investment and software development in Russia and Eastern Europe. Prior to starting GoalEurope she has worked in the field of finance, mergers and acquisitions, corporate strategy and offshore outsourcing at Unisys Corporation in Switzerland and United Kingdom. She has an MBA degree from London Business School. She speaks Russian, English and German. She lives in Northern Germany.
Twitter LinkedIn Facebook Google+ Natasha Starkell is the founder and CEO of GoalEurope, advisory firm focusing on technology investment and software development in Russia and Eastern Europe. Prior to starting GoalEurope she has worked in the field of finance, mergers and acquisitions, corporate strategy and offshore outsourcing at Unisys Corporation in Switzerland and United Kingdom. She has an MBA degree from London Business School. She speaks Russian, English and German. She lives in Northern Germany.
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