Investor in Skype, Mangrove Capital, invests in online Russian travel company, oktogo.ru
St. Petersburg, Russia - April 5, 2011 - Oktogo.ru, launched in 2010 by Marina Kolesnik, founding team member of Mail.ru, is pleased to announce the following successful milestones
Oktogo.ru now reaches 2000 contracted hotels creating the largest contracted hotels database in Russia and former Soviet Republics.
Oktogo.ru boasts (http://oktogo.ru/)
Mangrove CP, a global leading VC firm has become a shareholder, alongside ABRT and French fund Ventech VC. Javier Perez-Tenessa, the founder and CEO of eDreams, Fabrice Grinda, founder of OLX, and Jose Marin, founder of IG Expansion, have joined the company as investors and advisors.
The $5 million investment will help oktogo.ru continue contracting Russian hotels throughout the country and provide a unique online presence to most of the approximately 7000 Russian hotels, accelerate the growth rates and to build a recognized brand in Russia.
"The investment in oktogo.ru, one of the largest in online travel in Russia, will allow us to accelerate the company's growth and secure our leading position in the market," says Marina Kolesnik, CEO. "We have been working with hotels in Russia and worldwide and have good understanding of their needs. With this knowledge we will fulfill our objective of enabling Russian and international travelers to find accommodations in any part of Russia at any budget."
David Waroquier, a partner at Mangrove Capital Partners, says, "The management team at oktogo.ru is comprised of specialists in international online travel and IT with unique knowledge of the domestic travel and hospitality sectors in Russia and CIS. Oktogo.ru has significant potential to become the leader in the Russian market of online travel bookings. By backing oktogo.ru we are investing in the potential and significant current growth of the Russian travel market".
St. Petersburg, Russia based oktogo.ru (http://oktogo.ru/
About Mangrove Capital Partners
Mangrove Capital Partners (www.mangrove-
Mangrove Capital Partners has more than $ 500 million under management and has invested in more than 50 companies such as Skype, Seatwave, Brands4friends, Rdio, Nimbuzz, Wix, KupiVip, Spreets, Dialcom, Bettymovil, and Drimmi. Mangrove has had the privilege of being the first investor in Skype, which was sold to Ebay for € 3.1 billion in 2005. In 2010, Brands4Friends was sold to Ebay and Spreets to Yahoo.
About Ventech VC
Ventech started in 2006 operations in China to help the European companies in its portfolio develop their business in Asia and to invest in the region via a dedicated fund, based out of Beijing.
Marina Kolesnik, CEO