Central regions | Technology & innovation | Retail, FMCG
Ozon.ru raises record high $100m investment
9 Sep '11
Russian internet-store Ozon.ru has completed finance round and managed to raise $100m investor funds, Rossiyskaya Gazeta reports.
As of today this is the largest private investment in the Russian electronic trade market.
The largest contribution was made by an existing Ozon.ru investor – the company ru-Net Ltd. Among other investors are Japan online-retailer Rakuten, Swiss fund Alpha Associates and Index Ventures. The main shareholder Baring Vostok Private Equity Fund did not sell its shares this time.
“The raised funds are to be spent on further development of the existing network and opening new order pick-up stations all over Russia, as well as improvement of delivery and logistics system, infrastructure, product range expansion. Investment is also to be spent on development of Internet-store of travel tours OZON.travel and launching other projects.”
Nowadays Ozon.ru is the most visited Internet-store in Russia, with annual turnover of $140m. Its daily visits total 600,000 people.
According to portal BMF.ru, the Russian Internet-market causes more and more interest from investors.
Last year, Ozon.ru, which is often called “the Russian Amazon”, earned $137m. The company intends to invest this revenue into sales growth and expansion of the list of available goods. As of today, Russia has about 60 million Internet users.
However, world Internet-giants Google, Facebook and eBay find working on the Russian market challenging due to language barriers, business-environment and culture specifics.
According to the survey by Google Russia and Citibank, undertaken in November 2010, Russians were going to spend $20bn on shopping in the Internet. Under plans, in 2012 the number is to reach $27bn.