Wikimart is going to attract $40 mln. investments. The retailer is planning to spend part of this money on purchase of Terminal.ru. If the deal is closed, yearly turnover of the joint company could reach $500 mln. and become a new large market player.
Wikimart — Russian online retailer that is collecting offers on the web site from over 5 thousand shops. Service is providing an opportunity to purchase goods in different categories – from cloths till home appliances. Terminal.ru is a retail e-shop. The service was firstly launched in Siberia with warehouses in 13 Russian cities. Initiators of the deal consider the increase in revenue will facilitate the merger of Wikimart with warehouse infrastructure of Terminal.ru. Similar scheme is using one of the most fast growing Russian retailers – Ulmart.