KAYAK Software Corp., which raised $91 million at IPO on Nasdaq on July 19, is likely entering the Russian market. KAYAK has employed a former pizza delivery service executive Andrew Verbitsky as Managing Director in Russia & CIS, he has disclosed in his Linkedin full profile. The kayak.ru domain name, which has been previously taken by the so called Octopus club of kayakers, is now forwarding to kayak.com.
In Russia, the major travel search engines include Aviasales.ru, Skyscanner and Momondo. The major Russian search engines and online portals such as Yandex and Rambler have travel search Yandex Aviabilety at ticket.yandex.ru and Rambler-Avia at avia.rambler.ru, respectively. The KAYAK travel search is almost unknown in Russia. Neither has it a Russian language version available online.
Russia is the largest online market in Europe with more than 60 million online users.
In 2012, the largest Russian venture capital investments included $75 million in online classifieds Avito.ru by Baring Vostok and Accel, $38 million in online shopping KupiVIP.ru by Intel Capital, and $10 million in online hotel booking Oktogo.ru by VTB Capital.