Russian online video major received USD 250 million funding

RUSSIA / FSU POLITICS - In Brief 28 May 2021 by Alex Teddy
On May 25 Ivi's funding round received the funds from Russian state and private investors. The deal is one of the largest funding rounds in Russian tech in the last 10 years. It is also the biggest in the online streaming market.The investors are VTB Bank, Russian Direct Investment Fund, AG Invest and Millhouse Capital, Baring Vostok and RTP Global. Some of these investors participated in earlier equity rounds for Ivi. Forbes said Ivi is valued at almost USD 1 billion. Ivi will use the money to widen its content offering and make its own content. It will upgrade its advanced technological platform and improve marketing initiatives.Ivi's plans for an IPO in 2020 were delayed when the Duma introduced a draft law that would limit foreign ownership of online video platforms to 20% stake. A revised version of the law was published in April 2021. The bill had been watered down because the industry did not want to miss out on so much foreign investment. The Duma proposed a number of ownership and governnance mechanisms that would be consistent with international stock market listings rules. This would also prevent foreign shareholders controlling online media platforms. A new model - inspired by Yandex - would be created.Ivi says it is the biggest video streaming platform in Russia. It has a 30%+ market share. It has 50 million users and 100 000 titles. In 2020 its revenue was up 44%. It makes more from user generated revenue than adveristements.

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