Ulmart founder and CEO Sergey Fedorinov: “The context might change for the better before our potential IPO”

Starting from scratch in 2008, Ulmart took just five years to assert itself as the leading Russian e-commerce site, generating $1.3 billion in revenues last year in a domestic market that reached or exceeded $17 billion.


In spite of the current economic downturn in Russia, Ulmart expects continued growth this year and considers a Western IPO in 2016 or 2017. In this exchange with with East-West Digital News, Ulmart founder Sergey Fedorinov speaks frankly about how its company is adapting to the crisis and the competition from Chinese players. He also provides details about the company’s financial options, including the alternatives to an IPO.


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