iTech Capital, a Russian PE & VC firm, announced today an investment of $10 million in Aviasales.ru, a leading search engine for flights and hotel bookings. The terms of the deal have not been disclosed, but the firm told East-West Digital News it had obtained a stake of less than 30%. The company – which …
Travel metasearch engine Aviasales secures $10 million from iTech Capital Read More
Competition in the saturated Russian online travel sector is fierce, and one of the main players last week took the dramatic step of a complete rebranding as it seeks to differentiate itself from its rivals. Skolkovo resident Oktogo, which was supposed to be read OK-to-go (a fact lost on many), has adopted the name Travel.ru, …
Oktogo.ru raises $5 million and switches to Travel.ru Read More
Earlier this month, the 4th annual TechCrunch Moscow conference showcased many of Russia’s hottest tech startups. The conference aimed to show how innovation can “address the fundamental human needs more efficiently to increase the quality of life.” No fewer than 39 Russian tech start up stars competed to win the Startup Battle, and an additional …
TechCrunch Moscow conference highlighted startups that address “fundamental human needs” Read More
The famous tech publication Mashable has published its selection of Russia’s 20 “hottest startups.” According to the site, “Russia is gradually becoming a place where its undoubtedly strong education and engineering standards are blending with original entrepreneurship.” In addition to Skolkovo in the Moscow region, Mashable highlights that “in St. Petersburg and the lesser-known cities …
Travelata.ru, a Russian online travel agency focusing on package tours, has just released an in-depth presentation on the Russian online travel market. Citing a recent report by the global travel market research company PhoCusWright, Travelata reports that the Russian travel market was worth $53 billion in 2012. Only 14% of travel in Russia is currently …
Russia’s online travel market posts 50% yearly growth Read More
Last week Oktogo.ru announced the acquisition of information portal Travel.ru for a price of “up to $2 million including stock incentives,” according to a company statement. Founded in 1998, Travel.ru is one of the oldest resources in the Russian-language online travel segment. It reaches approximately 1.7 million users each month with up to 5 million page …
Online hotel booking service Oktogo.ru acquires information portal Travel.ru Read More
Moscow-based startup Travelata.ru has just raised $5 million in a Series A round from Polish private equity fund MCI Management. The capital injection went through Invia.cz, one of MCI’s portfolio companies, which sells package tours online in the Czech Republic and four other Eastern and Central European countries. The funding will be used to further …
Package tour reseller Travelata.ru secures $5 million investment from Poland’s MCI Read More
Russian hotel booking service Ostrovok.ru, which has been generously funded by Western and Russian investors since its launch in 2010, has laid off about a third of its staff in order to optimize operations and secure more investments. The company’s co-founder Serge Faguet made the move public in a corporate blog post published yesterday in …
On June 22nd, a team of entrepreneurs from New York is bringing a one-of-a-kind invite-only tech conference to Moscow. The event that promises to become a beacon of networking between Russian and American founders will be attended by 100 hand-selected members of the Russian tech elite – noteworthy startups, investors and media representatives. Beta Week will …
Beta Week: A beacon of networking between Russian and US tech entrepreneurs and investors Read More
In its pursuit of leadership in the Russian online travel market, online hotel booking service Ostrovok.ru has raised $25 million – its fourth fundraising operation in less than two years. General Catalyst Partners has led the round, with participation from Accel Partners and Russia’s Frontier Ventures as well as from Russian billionaire Yuri Milner, ex-Expedia …
Online hotel booking service Ostrovok.ru raises $25 million amid fierce competition Read More
Oktogo.ru, a leading Russian online hotel booking company, has attracted $11 million in its fourth round of financing since its inception in 2010. The funds have been brought in by Russian entrepreneur Victor Sazhin in addition to some of the startup’s existing investors. These include Luxembourg’s Mangrove Capital Partners, France’s Ventech, and VTB Capital, the …
Attracting an array tech investors, startup entrepreneurs, and professionals from Russia and abroad, the annual TechCrunch Moscow conference took place for the third time on December 9 and 10 in Digital October, a major venue for tech events and educational programs. This year’s topic was ‘War and Peace,’ with 44 projects involved, representing a variety of …
Forty-four Russian startups highlighted at TechCrunch Moscow Read More
