KupiVIP.ru holding owners invest $ 50 M in ShopTim online store

KupiVIP.ru holding owners have invested $ 50 M in ShopTime new online store. The new site is expected within three years to surpass the popularity of KupiVIP.ru which now has 8 million customers. The company plans primarily to spend the attracted funds on hiring the staff and marketing.

ShopTime, launched in test mode in the beginning of this year, specializes in selling clothing and accessories of popular brands. It differs from KupiVIP.ru, which offers discounted goods and the assortment is changing every day, in the fact that ShopTime has a constant assortment of new collections.

Among the KupiVIP.ru investors, created in 2008, can be mentioned the following funds: Mangrove Capital Partners and Accel Partners, as well as Russia Partners, Balderton Capital and Bessemer Venture Partners, which invested $ 55 M into the company in the beginning of 2011.