Ozon raises EUR 108 million in funding round

Friday 2 May 2014 09:02 CET | News

Russian online retailer Ozon has raised EUR 108 million in funding from holding company Sistema and telecommunications provider MTS, both parties investing USD 75 million for a 10.8% stake each in the company.

Sistema and its telecoms subsidiary MTS join a list of other companies, such as Index Ventures, Rakuten and Cisco, that have invested in Ozon.

This comes at a strategic time, according to Maëlle Gavet, the CEO of Ozon, who states that, even though currently only 24% of internet users in Russia shop online, there is the possibility of growth concerning internet penetration, from 57% in 2013 to an estimated 70% by 2018. The share of ecommerce will also improve, from 1.8% in 2012 to 7% by 2020, according to Ozon’s investor presentation.

Founded in 1998, Ozon sells books, movies, music and Software to customers in 56 different countries.

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Keywords: Ozon, funding round, ecommerce
Categories: Payments & Commerce
Countries: World
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