Russian booking site Ostrovok gets $25 million funding in Russian-American pact
Skift Take
With only about 8% of hotel bookings in Russia taking place online, Ostrovok and its peers have epic room for growth.
Ostrovok, the two-year-old Russia online travel agency, has big plans and an alliance of American and Russian investors contributed $25 million in a Series B round to help the company achieve its dream.
In its sights, co-founder and CEO Serge Faguet tells Skift, Ostrovok aims to raise another $100 million in funding in a year or two, and to reach market share parity in Russia with current hotel leader Booking.com within around four years.
Russian hoteliers like Ostrovok's 14.5% commission, smaller than Booking.com's 18%, and Ostrovok's localized marketing, tech talent and fulfillment, claims Faguet, a Russian who
