Kinnevik invests in Yell.ru
Swedish funds Investment AB Kinnevik and Vostok Nafta Investment have injected $11m into Yell.ru, a Russian online local search platform.
Vostok invested $8m of the total amount raised, with the balance coming from Kinnevik – an existing investor in the company.
Company
Founded in 1998 and headquartered in Moscow, Yell.ru operates an online local directory with user reviews about businesses and services in Russia.
According to the company, more than 3 million people visit the site monthly and leave more than 25,000 reviews per month. Yell.ru anticipates a third of all online Russians using the service by the end of this year, equivalent to approximately 10 million unique visitors per month.
People
Joakim Grönvall is the founder and CEO of Yell.ru. Per Brilioth is a managing director at Vostok.
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