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Ukrainian e-Commerce Platform UAProm.net Sells Majority Stake

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imageEastern European e-commerce group MIH Allegro—owned by South African publisher Naspers—has bought a 51 percent stake in Ukrainian online business directory and e-commerce site UAProm.net, according to Yakov. The amount paid wasn’t disclosed, the site’s founders will remain in charge for at least three years. Launched in April 2008, the Kiev-based site has 20,000 daily users and holds information on 40,000 companies from across Eastern Europe—more than 100 of which are paying customers.MIH Allegro runs several e-commerce platforms and classifieds sites in the region while Naspers owns 43 percent of Russia’s biggest online portal Mail.ru.

Yakov also reports that VC fund Atlanta Start has acquired a minority stake in Moscow-based development firm Fabrika Futbola which makes the 3D online football game of the same name. Startupindex.ru estimates the deal is worth $400,000 (£262,323).

May 14, 2009 6:26 AM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Countries, Europe, Russia

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