Ostrovok, the two-year-old Russia online travel agency, has big plans and an alliance of American and Russian investors contributed $25 million in a Series B round to help the company achieve its dream.
Five years from now it will be commonplace for online travel agencies to give customers the dual option of prepaying or paying at the hotel, and Russian online travel agency Ostrovok.ru is leading the way in the sophistication of its hybrid model.
Ostrovok.ru, the Moscow-based hotel booking service, just raised a triple funding boost from three of the most respected names in online travel. Erik Blachfold, CEO of Expedia, Hotwire and Tripit founder Gregg Brockway and Altimeter Capital’s Brad Gerstner all agreed to invest in the travel company.
The site, which will be launching next week, is coming out of the gate strong. It's already raised $13 million from Accel, General Catalyst and notable angels like Peter Thiel, Mark Pincus and Esther Dyson.