First slide

Russia’s sovereign wealth fund RDIF (The Russian Direct Investment Fund), Alibaba Group, MegaFon, and Group, announce the completion of the joint venture transaction to integrate internet and e-commerce platforms in Russia & the CIS.

Details are provided below:

  • • AliExpress Russia JV comprised of representation from RDIF, Alibaba Group, MegaFon and Group.
  • Group, the leading internet and IT company in Russia
  • The AliExpress Russia JV will accelerate the development of Russia and the region’s growing digital economy
  • Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said: “We are happy to announce the completion of our first joint investment with Alibaba Group and Russian tech leaders. It’s a mutually beneficial investment for both producers and consumers also transforming the Russian e-commerce market. The partnership already provides access to e-commerce services for more than 50% of Russian population, and Russian suppliers have the opportunity to reach 1.5 bn customers in China and globally. RDIF is looking forward to new joint investments and opportunities in other projects.”

Related News