Bay.ru attracted $4M

Bay.ru attracted $4M The Company Bay.ru, which renders services on repayment and delivery of goods from Internet stores of USA, attracted third round investments in amount of $4M. In financing took part both existing investors` pool of the Startup and new investors from USA, Europe and Asia. Funds will be directed on technological development, marketing and operating activity.

Investments attraction is a part of strategic course of the company, focused on continuous service improvement. Besides the financing from the side, Bay.ru always uses inner resources. In 2011 the company invested $700K of own funds in delivery service development Dostami Express, fast and cheap. Nowadays orders from USA to Russia are delivered during 7-10 days, whereas cost of the service is about $20 per package with an opportunity of its full tracing to the customer. It is faster than Express Mail Service (EMS), and cheaper than “First class delivery” from Russian Post (airpost).

Business indexes of the company demonstrate consistent tendency to growth. During 2012 Bay.ru tripled amount of business, and this year they plan to end with an amount of $75M. In 2012 number of registrations on the site increased 2,5 times, and now it is more than 350 thousand. During the last two years the company more than two and a half times increased storage facilities and staff number in Chicago. In the near future they plan to open an additional office in this city.

“A significant part of the attracted funds will be directed on marketing, including testing of new channels of clients` database increase. Besides, we will continue put up the capital in service, technologies, and development of Dostami Express, our independent method of international delivery. Part of money will be invested in a new platform implementation, which offers foreign retailers to use the Bay.ru infrastructure for sending goods to Russia. We carry on negotiations with lots of medium and large networks in USA, and we see a great interest to such an opportunity of a fast expansion on Russian market”, - commented chief representative of Bay.ru in Russia and CIS Maksim Andryuhin.