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Russian ad-management system Hiconversion announces that they’ve obtained 223,000 euro from The Moscow Seed Fund and Igor Ryabenkiy of Altair Capital Management. As part of the deal, Moscow Seed Fund will be giving 149,000 euro and Ryabenkiy will be chipping in 74,000. This deal comes on the heals of news from earlier this week that the Moscow Seed Fund invested 195,000 euro in mobile-advertising service iVengo. Interestingly, Ryabenkiy also invested in iVengo, but did so at the end of last year. Customers of Hiconversion include Quelle, Sotmarket, and LinguaLeo. Ryabenkiy’s Altair Capital already invests in LinguaLeo, so perhaps this latest move is less of a surprise. According to the original article, the service currently has 100,000 users. Of those, only 12,000 are considered active, however.
Hiconversion is an automated advertising service which allows users to create and maintain ad-campaigns on social networks like Vkontakte. As is pretty common with services like this, they allow advertisers to pay based on sales, real-time updates ensure that only relevant ads are displayed, and auto bid-management ensures that advertisers pay the lowest rate based on cost-per-click (CPC) and cost-per-order (CPO).
There is unquestionably a theme here in the investments by Moscow Seed Fund and Ryabenkiy. As we noted in the post a few days ago, investments of the Moscow Seed Fund in the past few months have included 312,000 euro for ad-management service ContextBroker, this week’s investment in iVengo, and this new backing of Hiconversion. Further, in recent months, we’ve written about the investment of 2,73 million euro by Russian VC fund iTech into Garpun and the recent moves (in mobile and on the web) by Oleg Tinkoff’s Tinkoff Digital. This simply seems to be one more instance in a larger trend. These different services approach the advertising market from different angles, but the common theme is that investors have really begun to try to find gold through ads in Russia.
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