Central regions | Finance, business | Technology & innovation

Russian state fund backs online hypermarket of children’s goods

8 Sep '14
The Internet Initiatives Development Fund (IIDF), a Russian government program set up to support Internet projects, is injecting just under $3m in Babadu, a Russian online hypermarket of children’s goods, Cnews.ru reported.

It is a second financing round for the fast-growing Babadu team. It earlier received an investment of “several million dollars” from Target Ventures, a VC fund.

The IIDF funding will reportedly be funneled to spur the further development of the Babadu business, including a broader marketing campaign to expand its client base and an improvement of the company’s operational efficiency. Babadu expects to achieve the latter by upgrading and optimizing its software that supports warehousing and sales.

According to IIDF, the current support will “pave the way for building a player worth a few hundred million dollars.”
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations:

Latest News: Central regions
24 Jun '22 | Technology & innovation
24 Jun '22 | Technology & innovation
23 Jun '22 | Technology & innovation
 

Feature stories

25 May '22
From enhancing the properties of existing materials...
29 Apr '22
Scientists in St. Petersburg have come up with a new...
2 Mar '22
Scientists in Dubna have developed what they refer to...
Search (News archive - 22990)
Technology Scouting Solutions For Industry
NATT
Advertising
Marchmont News

Latest News

27 Jun '22
Siberian scientists have developed new hybrid...
24 Jun '22
A new device, developed by a Russian start-up and...
22 Jun '22
Russian researchers have come up with a new Si...

Most read stories from last week

27 Jun '22
Siberian scientists have developed new hybrid...