Zappos‘ Russian copycat, Sapato.ru that raised some $20 million from Intel Capital, eVenture Capital, Kinnevik and Direct Group (Fast Lane Ventures) has been sold to OZON.ru, the leading Russian online mall.
OZON, which raised $100 million last fall, would hardly spend that amount to purchase a 1.5 years-old online shoes retaling startup.
By estimating annual sales turnover of Sapato.ru, one can suggest that OZON paid less than $40 million in cash and shares for Sapato.ru. Probably, $20 million or less in cash and the rest is in shares. According to OZON.ru announcement, Sapato.ru investors Fast Lane Ventures, Intel Capital, Kinnevik and eVenture are minority shareholders of OZON.
The biggest winner of the deal happens to be OZON, which gets online shoes retail business with high-growing sales revenues.
The competition to OZON is here. KupiVIP.ru, Russia’s top web startup of 2011, is getting bigger than OZON.