Aurora Venture Capital invests in a social network for travelers xLander

Aurora Venture Capital invests in a social network for travelers xLanderInternational Investment Fund Aurora Venture Capital acquired 25% of LLC xLander which develops Russian social network for travelers xLander, said the press service of xLander.ru on Tuesday. The amount of the transaction was not disclosed.

According to the company, the funds received from the transaction will be directed to the development, in particular, of new services and expanding of existing ones - both for travelers and for the professional market of tourist services participants.

Analyst from J. P. Morgan’s Moscow branch Alex Gogolev says that many investment funds are interested in buying a stake in the fast-growing specialized social networks now. Funds tend to invest in such companies in order to develop them and either to take them to the stock exchange or sell their shares at higher prices in some 5-6 years. According to my estimates, 25% of xLander shares cost 5-7 M RUR - he said.

According to the managing partner of the investment fund Aurora Venture Capital Vsevolod Topolyansky, Aurora Fund invests in high-growth IT-projects in Russia and the CIS, and xLander is growing rapidly: the number of registered users has reached 300K in 2.5 years after the launch. He says that the segment of travelers in Russia, who plan to travel independently, is actively growing, and the service is designed just for them. Therefore, we believe that xLander project has great investment attractiveness and growth potential, - said Topolyansky.

Social network xLander was founded in 2009 in Moscow, and unites approximately 300K people who use social services of the network for travel planning and sharing experiences. Travelers publish stories, photos and reviews online. The ratings of hotels, restaurants, attractions and tours are based on feedback. All information in the social network is geo-referenced and categorized by the following areas: countries, regions and cities.

Investment Fund Aurora Venture Capital was founded in 2010 by Russian and foreign private investors. The Fund focuses on investments in high-growth Internet resources and technological projects in Russia and CIS. The fund has invested in seven projects, in particular, in Russia's largest health portal for physicians Doctors at work, says digit.ru.





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