East-West Digital News 4 July 2012
Russian high tech fund Aurora Venture Capital has acquired a 25% stake in XLander.ru, a Russian social network designed for frequent travelers. The investment amount has not been disclosed, but an analyst at JP Morgan’s Moscow office estimated it could range from $1.2 million to $1.8 million, the Russian news agency RIA Novosti reported.
Founded in 2009, XLander.ru now claims to attract “nearly 300,000 people” who use the site to plan their trips, share their pictures and experiences, and rate hotels, restaurants and excursions.