Tiger Global Management has invested some $25 million in the leading Russian coupon service Biglion, reported newspaper Vedomosti. Previously, Biglion raised funding from Ru-Net of Leonid Boguslavsky.
Launched in March 2010, Biglion offers coupons to 7 million users in more than 50 cities of Russia as well as in Kiev, Ukraine. Its annual turnover is estimated at more than $150 million. The company is reportedly profitable.
Biglion‘s closest competitors in Russia are Vigoda.ru and Groupon Russia (formerly Darberry) with annual turnover of ca. $100 million.
Russia has 51 million Internet users, the highest number of users in Europe.
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