Get our rare newsletters
Contact GoalEuropeIf you have questions or need a consultation, get in touch.
UPDATED: Russian hotel-booking service Oktogo has acquired air-ticket service Travel.ru in a deal which could reach 4,5 million Euro, reports Russian site iLiftTV. The news first was first leaked a couple of weeks ago while we were still on break, but now we have confirmation from the head of the acquired company. It has been later reported by TechCrunch that the deal was just a little over 1,5 million Euro. Last week, we reported that rival OneTwoTrip purchased deal-comparison site DealAngel, so there’s been some acquisition activity by the larger Russian OTAs. Earlier this year, Oktogo made headlines when they raised 8,25 million Euro in a venture round from Mangrove Capital Partners, VENTECH, and Russian VTB Capital Investment Management. They previously raised 7,5 million Euro in March 2012 from the same investors and Russian ABRT Venture Fund and 3,75 million Euro in April 2011 from ABRT and Mangrove Capital. The company was founded in 2009 and is currently run by CEO Marina Kolesnik.
Travel.ru, which was founded in 1998, currently receives about 1,5 million unique visitors per month. However, founder of Travel.ru Asya Patrysheva says that the deal was somewhat of a necessity because although they are able to sell tickets for airlines and trains and to offer hotel accommodations, they lack the offline infrastructure to really make big profits. In order to really make money, she says that they needed logistics or a partner such as Oktogo, which is fully-engaged in this area.
+44 (020) 3290 3544
vita at goaleurope dot com