The Russian online shopping clubs KupiVIP.ru, Collection-Privee, and others are taking over the local market when the tsar of online shopping clubs, Vente Privee is reportedly being circled by strategic buyers at a massive, $1.5 billion valuation.
The online shopping club champion, KupiVIP.ru is approaching 1 million registered users. Founded in 2008, KupiVIP.ru is financed by venture capital firms Mangrove Capital Partners and ABRT Fund as well as by private equity investors Arlan and Direct Group.
Founded in 1998, Russia’s “Amazon”, Ozon.ru sells mostly books, music CDs, and DVDs. The company, which has over 3 million registered users, reported revenues of 1.4 billion rubles (ca. $42 million) in H1 2009. The company raised over $20 million from BVCP, Index Ventures, Holtzbrinck Ventures and Cisco Systems.