Russian Valley getting Silicon'ed
BVPEF, or simply Baring Vostok Private Equity Fund
has sold 20% stake in the leading Russian e-commerce store Ozon to Swiss venture capitalist firm Index Ventures. Ozon, which is based out of Moscow and until recently sold books, audio, video and electronics is now expending house goods and sportswear.
Index Ventures (among other partners) is the firm behind the recent $45 million investment in Joost, a revolutionary internet TV service.
Phonetical similarities of Ozon and Amazon is not the only thing both sites have in common. Ozon is a leader in Russia's online shopping segment and its selection vastly outnumbers nearing competition. The hope is that one day, Ozon will become Russian Amazon.
Ozon's major competition are
Books.ru
Bolero.ru
and Labirint
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