The Russian online population is now more than 55 million. The online ad spendings were $1.4 billion last year. Looks like it’s a good time for copycat business models to emerge. While Eventbrite and Amiando are busy concurring online event registration and ticket sales markets in Europe and the U.S., here in Russia their competitor called TimePad has emerged. It has announed a new funding from Afisha Rambler. Its Rambler-Fund put more than $100,000 in TimePad. Previously, the company received some cash grants and angel money. TimePad is expected to be integrated with cinema ticket sales service Rambler-Kassa.
Launched in 2009, TimePad was founded by Daria Ustyuzhanina, Artem Kiselev and Lyudmila Pavlova in business incubator of Higher School of Economics (HSE) in Moscow. TimePad has 5,000 clients among training companies and event organizers. Most of them use TimePad for free. However, TimePad does make money by charging 9% per ticket sold. It also offers service subscription plans. In comparison, Eventbrite, which recently passed 50 million tickets sold, charges 5.5% + $1 fee.
See top 10 Web Startups from Russia.