With Russian online travel sales expected to increase to as much as 30% of the total travel sales market, online travel sites stand to benefit greatly in coming years. The good outlook may be one of the things that has motivated New York-based Tiger Global Management to invest in Russia’s Anywayanyday.com. Tiger global has acquired a 40% share of the company for nearly USD 10 million, adding it to a Russian portfolio which also includes the Yandex search portal.
Anywayanyday.com (www.anywayanyday.com)
Anywayanyday is a travel portal established in 2008 and owned by Valars Group CEO Kirill Podolsky. It focuses primarily on airline tickets sales for now, but plans expansion into hotel reservations and other travel services.
The portal claims 3% of Russia’s total online air ticket sales and an estimated 50,000 visitors. Increasing market share to 15% is Anywayanyday’s goal for the coming year.
Tiger Global Management
Tiger Global Management is an American investment manager of private equity and hedge funds. The firm focuses heavily on the technology sector but is also active in energy, media, real estate, and retail.
Investments span the globe in most sectors, but where real estate is concerned Tiger Global prefers China, Europe, and India. The firm also invests in U.S. fixed income markets and hedge funds. Currently, Tiger Global manages roughly USD 5 billion in total assets.
30/07/2010
Central & Eastern Europe, Investment, Private Equity News, Russia, Tourism, Restaurants & Leisure