Softline Venture Partners, a fund owned by Softline, a leader on the Russian software licensing market, has invested an additional $500,000 in Emegamall to take a controlling stake in the company. The transaction was based on a valuation of $2 million, reports Oborot.ru, a specialized online resource.
Emegamall allows e-merchants to place their products on third-party sites, including such leading social networks as Vkontakte.ru and Facebook, classifieds sites, auction sites and blogs.
Emegamall is supported technically by Ecwid, a Russia-based e-commerce software publisher.
The transaction reflects the growing interest in social commerce, a nascent but promising trend in Russia as well as in other countries.
Update May, 2011
Emegamall was rebranded into Magazinga
