Lamoda Raises $130 Million Led By Billionaire Leonard Blavatnik
Lamoda is a Russian e-commerce company that has raised $130 million in funding round led by billionaire industrialist Leonard “Len” Blavatnik. Blavatnik’s Access Industries, Summit Partners, and Tengelmann is receiving an undisclosed direct stake in Lamoda. Lamoda is known for selling clothing, shoes, and beauty products.
This is the largest investment made in a Russian e-commerce company. Another large deal was South African retailer Naspers buying a stake in Russian e-commerce company Avito as part of a merger of their local classifieds businesses and $50 million in cash.
Blavatnik’s Access Industries is known for being in multiple businesses. They have a chemicals and real estate business. Access Industries also controls Warner Music Group.
Blavatnik started AAR with his college friend Viktor Vekselberg. The two of them joined Mikhail Fridman’s Alfa Group shortly after. AAR gained ownership of Russian oil company TNK through privatization auctions and sold a 50% stake of the company to British Petroleum to create TNK-BP. Rosneft acquired TNK-BP for $55 billion in March 2013. Blavatnik is reportedly worth around $16 billion as of March 2013.
Lamoda is known for being incubated by Rocket Internet, a startup acceleration firm founded by the Samwer brothers. Access Industries has been a huge supporter of Rocket Internet companies as they have inspired in some of their other startups like Pinspire and Westwing. Access Industries also put in $200 million as a direct investment in Rocket Internet this past May.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry