Yesterday, Moscow-based venture fund Target Ventures announced it has acquired the Afisha-Rambler Group’s 49% stake in TimePad, a startup that offers online tools for event organizers. The amount of the transaction has not been disclosed.
The new shareholder may provide the startup with a capital injection in the near future, the fund’s Mikhail Lobanov told East-West Digital News.
Founded in 2008 with the help of HSE Inc., the business incubator of Moscow’s Higher School of Economics, TimePad is an equivalent of Eventbrite or Armiando. Its functions include event publication and promotion through existing contacts and social networks, as well as online registration, ticket sales, and attendee management.
The Afisha-Rambler group, an important player on the Russian Internet scene, had acquired this stake in the startup in early 2012; important synergies had been expected.
Target Ventures was launched in 2013 to invest in the “digital consumer space.” Among its portfolio companies are Babadu.ru, an online children’s goods retailer, and MixVille.ru, an online confectionary shop.
