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Files under: Mobile, News, Tech, Web 2.0
Posted by: admin @ 01:15 [9. 06. 11]
 Intel Capital and Almaz Capital have led a new round of funding in AlterGeo, a Russian geo social service. Intel and Almaz invested several million dollar in exchange for a 25% stake in AlterGeo, valuing it at $20 million, according to newspaper Vedomosti. That could imply $5 million new investment.
AlterGeo previously raised $1 million from Kite Ventures and AddVenture.
AlterGeo (formerly Wi2Geo), like Foursquare, is a Russian location-based mobile platform (geo social service) that makes cities easier to explore. AlterGeo users can “check in” via a smartphone app and share their location with friends while collecting coupons, points and virtual badges. For example, the leading Russian retail bank VTB24 launched a loyalty program “Become a major of VTB24!” with Foursquare in April 2011. Next month VTB24 added AlterGeo to its loyalty program.
Launched as Wi2Geo in Moscow in July 2008, AlterGeo has more than 0.7 million users. AlterGeo was founded by Sergey Kurlovich and Denis Alaev in 2007. Almaz Capital has investment in mobile social network provider Apollo.
Founded in 2007, Foursquare has over 8 million registered users worldwide. Its users make over 2.5 million check-ins per day. Over 250,000 businesses use its merchant platform. Foursquare raised more than $20 million from Union Square Ventures, O’Reilly AlphaTech Ventures, Andreessen Horowitz and angel investors.
In 2010, Intel Capital invested $2 million in Rock Flow Dynamics in Russia.
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