Ru-Net invests in two Indian e-commerce companies

Ru-Net invests in two Indian e-commerce companies Leonid Boguslavsky’s Ru-Net invested $ 17 M in Freecultr and BeStylish projects - Indian e-business players. It is reported by Kommersant press, citing sources close to the deal. The size of the Indian e-commerce market has already exceeded $ 10 B.

Ru-Net investment in Freecultr Company, according to unconfirmed reports, amounted to $ 7 M while another $ 2 M had been received from the U.S. Sequoia Capital venture fund. Thus, the total value of the company estimated at $ 18 M. Freecultr, operating online, offers clothes and accessories that were not available in the Indian market. Monthly revenues of Freecultr have tripled within the past three months.

BeStylish company has received $ 10 M from ru-Net (the entire company is valued at $ 30 M) and it is one of the largest players in online shoes retailing in India. BeStylish’s special feature is the system of Internet kiosks, set by the company in small shoe stores across India. The buyer chooses shoes, buys it and the delivery is made within three days to the shop where the order was made from. The store gets about 1,000 orders per day.

Ru-Net owns stakes in Yandex, MJ Group, IConText,, iMobilco, Biglion and others. Investments in Indian companies are called the continuation of Ru-Net’s overseas expansion: the company invested in Vietnamese Internet projects not so long ago.