Ivi.ru Secures US$40 Million Investment (CEE and CIS)

Source: Kommersant  |  Author: Roman Rozhkov

Russian online video service Ivi.ru has secured a US$40 million investment from Russia-based private equity firm Baring Vostok Capital Partners and a consortium of existing shareholders including Russian venture capital funds ru-Net and Frontier Ventures, U.S.-based investment firm Tiger Global Management and Russian media and entertainment group ProfMedia. Ivi.ru will use the capital to increase its catalog of films and videos, and to expand the service’s presence on mobile platforms.