Stockholm, 2015-09-17 08:00 CEST (GLOBE NEWSWIRE) --
Vostok New Ventures Ltd. ("Vostok New Ventures" or the "Company") today announces its investment in BlaBlaCar, the world’s largest long-distance ridesharing community. Vostok New Ventures has agreed to invest a total of EUR 30mln (USD 34mln) in primary and secondary shares in the context of a larger USD 200mln Series D investment round led by Insight Venture Partners and Lead Edge Capital.
BlaBlaCar connects people looking to travel long distances with drivers already going the same way, so both can save money by sharing the cost of their journey. This model has made BlaBlaCar a leader of the global sharing economy with over 20 million members in 19 countries, and is helping to make road travel more efficient and affordable.
BlaBlacar will use the new funding to support accelerated growth in Europe and a rapid take-off in emerging markets, where demand is being fuelled by gaps in public transport provision and the high cost of owning and running a car. The funding will also be used for future expansion where BlaBlaCar currently has its sights on Brazil, Asia and additional markets in Latin America.
Vostok New Ventures’ Managing Director Per Brilioth comments:
”We are excited to announce our new investment in BlaBlaCar. BlaBlaCar, with its strong network effects characteristics, will fit perfectly in our portfolio of high growth online marketplaces, and we look forward to support the company and its founders in the years to come.”
BlaBlaCar was founded in 2006 by Frédéric Mazzella, CEO, Francis Nappez, CTO, and Nicolas Brusson, COO and has now raised more than USD 300mln in funding to date. Currently, BlaBlaCar operates in Benelux, Croatia, France, Germany, Hungary, India, Italy, Mexico, Poland, Portugal, Romania, Russia, Serbia, Spain, Turkey, the Ukraine and the United Kingdom. For more information on BlaBlaCar, please visit www.blablacar.co.uk.
Per Brilioth
Managing Director
For further information please contact:
Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.
