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Since we reported the injection of $10 million capital into Russian online marketing platform SEO Pult by iTech Capital back in July 2012, the company has grown by 84 percent and reported $53,6 million net revenue (July 2012 to June 2013).
Here is a further update from the Pult Group that may just give apprehensive Western venture investors more confidence to back Russian online businesses (as the word “startup” is not quite relevant in this case).
Pult Group provides a set of automated online tools for search engine optimisation, paid search and contextual ad campaigns management. In the past year it launched new services such as text exchange Webartex and mobile ad network AdCamp. Webartex is quite interesting as it provides an online marketplace for website owners to order and offer online articles with integrated links and target keywords. In the first month of launch it acquired 18,300 users and over 2000 websites.
According to company press release, Pult Group now holds 65 percent share in the Russian automated search engine marketing segment. It has 72,000 active advertisers, and has seen the number of active accounts grow to 42 percent with the introduction of Webartex and AdCamp.
Pult Group’s managing director is Nick Davidov, the director of iTech Capital. SEO Pult has been founded in 2008 by Nikolay Evdokimov, Igor Artemenko and Pavel Yushkevich and grew organically until 2012 when iTech Capital invested $10 Million of growth capital.
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vita at goaleurope dot com