Onetwotrip.com certainly has the means to do so – the online flights booking portal has reportedly secured a whopping $16 million in investment from venture capital firm Atomico, which is ran by one of the founders of internet phone service Skype. According to the leading Russian technology blog Quintura, Onetwotrip’s latest round of funding comes just a month after it secured $9 million in backing from Russian investment firm Phenomenon Ventures.
Launched just 12 months ago, Onetwotrip sees itself as something of a Russian Expedia or Orbitz, a place where users can search for domestic and international flights, compare prices, read reviews and book the most suitable flight for their needs. It’s not without competition though, with the likes of Yandex Aviabilety, Rambler-Avia and Aviasales.ru all offering similar services.
The travel space is an enticing one for Russian startups, given that the country has more than 60 million internet users, according to research firm PhoCusWright. And while the vast majority of Russian travelers still prefer traditional high street travel agencies at present, times are a changing, with PhoCusWright predicting that online bookings will account for some 18% of Russia’s travel industry by 2013.