Russian-founded service marketplace YouDo has raised $17 million in a funding round led by the nation’s largest telecommunication service provider, PJSC MTS, which contributed $12 million. With the fresh capital injection the business prepares to introduce brand-new service classifications in the future, in addition to start an international expansion.Earlier this year, Russian paper Kommersant reported that both PJSC MTS and China’s Alibaba Group had an interest in purchasing YouDo, however, the latter did not end up taking part in the current funding round.”We are preparing to check specific things with Alibaba, however today there is no Alibaba’s entry into the capital,”Alexei Gidirim, co-founder of YouDo.com, told Tech.eu.Launched in 2012 with a focus on house repairs, YouDo presently notes 16 various classifications of services, from car repairs to tutoring to web development and design. It declares to have more than 800,000 pre-screened and verified provider and 5 million signed up users in total.The business only runs in the Moscow, St. Petersburg, Nizhny Novgorod, Kazan, and Yekaterinburg regions in Russia, however,”almost 30 percent of its orders are
virtual, and are provided and carried out from throughout the world, “YouDo mentioned in a news release. Speaking of the possible worldwide markets the business might enter, Gidirim mentioned that”Central and Eastern Europe are considered in top priority. “”The collaboration with MTS suggests access to the huge clientele and expertise of MTS, “Gidirim said.”Our efforts combined, we will be able to produce
distinct services for our clients and quickly expand the reach of these services. At the very same time, the business will remain independent. If there’s need for extra capital, we can even more raise current financing to $27 million within the structure of the existing round.” The post Russian peer-to-peer service market YouDo raises
$17 million appeared first on Tech.eu.