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Russian online hotel-booking service Ostrovok announces that they’ve raised $25 million in funding from famed Russian investor Yuri Milner and others, as reported by Mike Butcher at TechCrunch. When we last wrote about Ostrovok, we noted that this company already has laundry list of major investors backing them. Just over a year later, we find that they’ve managed to attract a couple of other big fishes in Shervin Pishevar, and Edward Kaufman, who formerly headed the Russian division of UBS. In joining in this series B round, Milner joins current investors Accel, General Catalyst, Founders Fund, Eric Blachfor and more.
When we last covered Ostrovok in January 2012, we reported that the company raised an unspecified amount of money and back in 2011, this company obtained $13.6 million in funding, so they are no strangers to large-scale investment. TechCrunch notes that the site attracts over a million unique users monthly and maintains a database of over 25,000 hotels in Russia.
Ostrovok’s primary Russian rival in the online-booking market is probably Oktogo, which was founded by current CEO Marina Kolesnik and Artem Zakharov and is backed in part by Skype-investor Mangrove Capital, ABRT, and Ventech. Incidentally, Oktogo just announced less than two weeks ago that they’ve raised $11 million, which would indicate that investors have a huge amount of confidence in the potential for the online-booking market in Russia.
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