Czech company invests in Russian online ticketing service


Popular Russian online ticketing service has received a financial boost from Czech investment company Invia. The latter is backed by Polish VC fund MCI Management, and is already a leader in the online travel bookings market in the CEE region. Though Travelata competes globally with giants like Expedia, Orbitz and Priceline, the Russian market penetration is still at a very low level of 2 per cent – an indication that international players haven’t been able to infiltrate the local market there as they have elsewhere around the world. The new investment will allow the online booking company to expand its global reach and dig its heels deeper into its core market. Over the New Year, the company offered its Russian customers a chance to usher in the new year from Prague. Travelata was formed in 2011 by Stanislav Satsuk and Alex Zaretsk after they realized that the $12 bln travel market in Russia is severely under-served in terms of online booking options.

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