Onetwotrip.com, a rising star in the Russian online travel market, has just raised approximately $9 million from Phenomen Ventures, yielding a minority stake to the fund. The startup’s valuation has not been disclosed, but the Russian business daily Kommersant reported it might have been in the range of $70 million.
Onetwotrip was launched in May 2011 by Petr Kutis, who previously co-founded Anywayanyday.com, which is now a direct competitor of Onetwotrip. Last July, according to ComScore data cited by Kommersant, the site attracted 157,000 unique users, compared with 400,000 Anywayanyday users.
Onetwotrip claims to sell more than 3,500 tickets per day, with a turnover of $30 million in June, according to the company, which could reach $400 millon this year – the same order of magnitude as Anywayanyday. The site’s profitability indicators remain undisclosed.
The Russian online airticket booking market could reach $3 billion this year, up 70% from 2011, according to Phenomenon Ventures.
Top Russian online booking services by turnover in 2011. (Source: EWDN’s research on Russian e-commerce.)
A $50 million Russian investment fund, Phenomen Ventures was founded last April by Dmitry Falkovich, a tech investment veteran who took part in the development of the Mail.ru Group with Yuri Milner. The fund has already invested $20 million since its launch, reported Kommersant, but the transaction with Onetwotrip seems to be the first one to have been made public.
- RUSSIAN E-COMMERCE REPORT 2012 – The total volume of Russian online retail reached 310 billion rubles, a little more than $10 billion, in 2011, up 25% at least from the previous year. EWDN has published an in-depth research on Russian e-commerce, in which several players of the online travel market took part. To receive free insights or to order the full version, please contact us at [email protected].
