Oktogo, the company operating Russia’s major hotel e-commerce business, Oktogo.ru, has acquired Travel.ru, a Russian online travel portal. Oktogo.ru backers include VTB Capital, Mangrove Capital Partners, Ventech and ABRT.
Oktogo, the company operating Russia’s major hotel e-commerce business, Oktogo.ru, is announcing that it has acquired Travel.ru, a leading Russian online travel portal. Founded in 1998, Travel.ru is a well-known and trusted brand in Russia, serving expert travel content, both editorial and user-generated to Russian travelers.
Over the past four years, Oktogo has developed a major online hotel booking service in Russia. In February Oktogo was named the most innovative company in Russia by Fast Company in The World’s Top 50 Most Innovative Companies 2013. Oktogo.ru won the National Geographic Traveler Awards 2012 as the best Internet service. The investors of Oktogo.ru include VTB Capital, Mangrove Capital Partners, Ventech and ABRT.
According to the market research firm PhoCusWright, the Russian online travel market will exceed US$10 billion in 2013, up more than 40 percent from 2012.
“Combined audience of Travel.ru and Oktogo.ru of 3 million unique monthly visitors makes it by far the largest online travel destination serving independent travelers in Russia,” says Marina Kolesnik, co-founder and CEO of Oktogo.ru. “We will further enhance the Oktogo.ru hotel product with unique content from Travel.ru and leverage our hotel product to better serve the loyal audience of Travel.ru. As a result, we will be able to deliver a unique service to customers at different stages of decision making cycle – from those who gather information and search to those who shop and buy travel product.”
Maria Puzankova, chief editor of Travel.ru: “We will continue delivering premier travel content which has so many loyal users. Teaming up with a resourceful company such as Oktogo will enable us to do it even better.”
Philip Wolf, founder of PhoCusWright and Oktogo board director: “This integration of best-in-class product offerings will create an innovative approach for Russians to research, shop, buy and memorialize their trips. A seamless experience will engage customers throughout the entire travel decision-making cycle, which is something lacking in this market.”
David Waroquier, partner at Mangrove Capital Partners: “With the acquisition of Travel.ru and its high reputation, we pursue our strategy building the premier OTA in Russia focusing on Russian travelers. Oktogo is built on solid performance, business focus and growth, and with the integration of Travel.ru we will further boost our positioning as the number one destination for Russian independent travelers. We reinforce the unique positioning of Oktogo, by leveraging a high quality content and a broad range of travel services to domestic Russian travelers.”
Oktogo is the leading Russian online hotel reservations agency. Designed specifically for Russian travelers, Oktogo.ru offers over 5,000 hotels in Russia and over 250,000 hotels worldwide. The Oktogo.ru website attracts more than 1 million unique visitors each month via the Internet. With the head office in St. Petersburg, Oktogo has the largest database of hotels online in the Russian regions.