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FRII invests in children’s e-commerce

0 2 September 2014

The Foundation for Internet Development Initiatives (FRII) is investing $2.9 million in online children’s store Babadu. This will be investment round B for the company, which has previously received funding from Target Ventures.

Maksim Shteigervald, FRII investment director:

“We have been interested in the online children’s goods market for a long time. It’s an attractive sector for us because of its rate of growth, good margins and the absence of a clear market leader. This opens the possibility of becoming a major player with capital of a few hundred million dollars. We first became interested in Babadu because of its people. There is a great team here made up of high-level professionals. Furthermore, Babadu has demonstrated fast growth in sales and good internal finance. We are certain that with our help Babadu will become the number one market player, continuing its rapid development.”

The FRII investment will be put towards the further growth and development of the business, including strengthening their marketing to pull in new clients, improving operational efficiency and updating their stock monitoring and sales software.

Natalia Shkirtil, Babadu CEO:

“We are pleased to have the Fund for Internet Development Initiatives as a partner. Babadu has more than trebled in size over the year since we received our first round of investment from Target Ventures. We are constantly expanding our activities, combining sales of children’s goods with social projects aimed at parents. Today Babadu has an international children’s brands store, a comprehensive child development information portal and a gifts programme for newborns.”


Source: RusBase.vc

Top image via Shutterstock

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