‘Amazon of Russia’, OZON has received an approval from the Federal Antimonopoly Service (FAS) of the Russian Federation to acquire online shoe store Sapato.ru, according to the FAS’ web-site.
To finance an acquisition, OZON can use proceeds of $100 million round that it raised from Ru-Net, Rakuten, Alpha Associates and Index Ventures last September. Launched in 1998, OZON.ru should have generated revenues of some $200 million in 2011. Its major shareholder is Baring Vostok Capital Partners (BVCP).
Launched in June 2010, Sapato raised some $18 million in venture capital including $12 million in a round led by Intel Capital last June. Other investors of Sapato.ru included German Otto Group-backed eVenture Capital Partners, Investment AB Kinnevik of Sweden and Direct Group (via Fast Lane Ventures) of Pascal Clement.
Russia’s top 10 web startup of 2011, online shore Lamoda.ru will now face a serious competion from a possible alliance of Sapato.ru and OZON.
In 2011, the Russian e-commerce market was valued at more than $10 billion, up 25% from 2010.
Update: The acquisition of Sapato.ru by OZON is confirmed.
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