East-West Digital News 13 Feb 2012
Russian business daily Kommersant reported from unnamed sources on Friday that VTB Capital has invested $10 million in Oktogo.ru, a leading Russian online hotel booking startup, in exchange for a stake of 30 to 35 percent in a capital increase operation. VTB Capital and Oktogo declined to comment, but the news was confirmed to East-West Digital News by a source close to the deal.
Founded in 2010, Oktogo now shows daily traffic reaching 18,000 users on average and up to 25,000 on peak days, Oktogo told EWDN. Revenues reached $10 million in 2011 and the startup expects to triple them in 2012.
In November 2010, Oktogo closed its first round of financing with the so-called “SuperAngels” Toivo Annus (founding engineer of Skype), Fabrice Grinda (co-founder of OLX), Jose Marin and Javier Perez-Tenessa. In April 2011 the startup closed a $5 million round with Western funds Ventech and Mangrove Capital Partners and Russian fund ABRT.