DST Global, Russia’s leading IT fund with stakes in Facebook, Groupon, Twitter, Zynga and other top global web properties, has bought a 4% equity stake in online fashion store Zalando, The Financial Times reported yesterday. DST is joining current shareholders Rocket Internet, Holtzbrinck Ventures, Tengelmann Ventures and Kinnevik.
The Russian fund offered “unbelievable money at unbelievable valuation,” commented German e-commerce blog ExcitingCommerce, although the financial terms of the deal were not disclosed.
Founded three years ago by internet entrepreneurs Oliver, Marc and Alexander Samwer, the Berlin based startup now offers fashion and lifestyle products to customers in Germany, France, UK, Italy, the Netherlands, Austria and Switzerland. The site generates 100 million euros per month in revenue.