Russias sovereign wealth fund RDIF (The Russian Direct Investment Fund), Alibaba Group, MegaFon, and Mail.ru 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 Mail.ru Group.
- Mail.ru Group, the leading internet and IT company in Russia
- The AliExpress Russia JV will accelerate the development of Russia and the regions 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. Its 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.