American investors invested almost $ 50 million in Ecwid IT project with Russian roots

American investors invested almost $ 50 million in Ecwid IT project with Russian roots

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Natalya Solovyova | 05/29/2020

American investors invested almost $ 50 million in Ecwid IT project with Russian roots

The Ecwid online store service attracted a total of $ 49 million investment. In the last round, Morgan Stanley Expansion Capital and PeakSpan Capital funds became its investors.
  invested $ 42 million in the project

The designer of Ecwid online stores, headquartered in San Diego (San Diego, USA), founded by Russian Ruslan Fazlyev in 2009, provides a service that allows, without special
  knowledge and significant costs, literally in a matter of hours, launch an online store on any web site or social network. During its existence, about 1.5 million companies from
  categories of small and medium-sized businesses that are residents of 175 countries. Only in the last 2019, as the founder of Ecwid reported in the media, the number of new customers of the service grew by 100%, and for
  the last quarter has quadrupled compared to the same period in 2019.

In 2011, Runa Capital became the investor of Ecwid, investing $ 1.5 million. Three years later, another round of investments in Ecwid in the amount of $ 5 million was headed by iTech Capital, and Runa Capital also
  took part in it.

During the last, third round of attracting investments, the Morgan Stanley Expansion Capital fund and the Silicon Valley resident PeakSpan Capital fund invested $ 42 million in the project, and the manager
  PeakSpan Capital partner Phil Dur and Morgan Stanley Expansion Capital Managing Director and CEO Pete Chung have joined the Ecwid Board of Directors.

Using the funds received, Ecwid intends to buy back its shares from the initial investors, including Runa Capital and iTech Capital, which are among the co-owners of the project, to expand
  the staff doubled, and also occupy a significant market share of products for e-commerce. Over the next five years, according to Ruslan Fazlyev, the volume of the latter will reach $ 11 billion.

The amount that the initial investors will receive upon exiting the project is not called. However, it is known that during the partnership, the value of shares owned by these companies has grown significantly.
  For example, as Dmitry Chikhachev, Managing Partner of Runa Capital, said in 2011, when the companies became partners, Ecwid had 100 thousand customers, and the team worked from
  Ulyanovsk. Today, the Ecwid platform, by the efforts of the founders and the team, has become one of the leaders in e-commerce.

Information about the new distribution of shares in the capital of the designer of online stores is not disclosed. As Ruslan Fazlyev commented in the media, his share in the project today is below 50%, but still

Amid the downturn experienced by the traditional offline business model, says Pete Chang, Ecwid helps customers get the most out of going online. Its founder was able
  gather a team and create a set of solutions that allow any family store to join the world of online trading, significantly increasing revenues and market capacity.

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