Hotel reservation service Ostrovok.ru is going to spend 12 million dollars attracted from Vaizra Capital for expansion of the worldwide hotel base and the company's development. 

      "The new investment will allow us to provide "Ostrovok" customers more accommodation facilities at lower prices," the service CEO Sergei Faghe noted in his interview with RBK. To note, Vaizra Capital Foundation belongs to Vyacheslav Mirilashvili and Lev Leviev who were co-founders of VKontakte social network. After the transaction, the Ostrovok.ru board of directors will include one of the venture’s first investors Fritz Demopoulos, who is also a co-founder of Qunar, the largest hotel reservation and ticketing service in China. As the press release notes, in total "Ostrovok.ru" has attracted more than $ 50 million from private and institutional investors. 

      Among those who invested in the company, the service named Yuri Milner. He and Alisher Usmanov own a group of DST Capital funds, which owns shares of the leading Internet companies, including the Chinese online retailer Alibaba Group. Among the investors of Ostrovok.ru were also funds of General Catalyst Partners, Frontier Ventures and Accel Partners.