Russian online retailer OZON, popularly known as ‘Amazon of Russia’ has been given the go-ahead by the Federal Antimonopoly Service (FAS) for acquiring online shoe business Sapato.ru. Founded in 1998, OZON.ru is expected to report revenues of about USD 200 million in 2011. The retailer may use the USD 100 million it raised last September from a raft of investors including Ru-Net, Rakuten, Alpha Associates and Index Ventures.
Sapato.ru (www. sapato.ru)
Launched in June 2010, footwear retailer Sapato has successfully raised USD 18 million through three rounds of venture capital funding till date, including a USD 12 million round in June 2011 led by Intel Capital.
13/02/2012
Central & Eastern Europe, Internet, E-Commerce & E-Services, Private Equity News, Russia