Some think that startups targeting local markets are not worth looking at. Size is too small and there are so many market specifics. But let’s look at the numbers. Retailmenot almost reached $2B evaluation last year, getting ~5M weekly visits.There were 68M Internet users in Russia last year and the # is growing quickly. There is a long list of successful Russian E-commerce companies. Only Citylink.ru, for example, declared $533M in revenues in 2012.
PRODUCT & TRACTION
I bootstrapped and launched a fully-functioning website in 2011 and by the summer 2012 I built a low-cost team of free-lancers responsible for regular updates working on the project part-time. Both visits and community around the website have been growing since then.
STRATEGY & MONETIZATION
The ambition is to dominate the market and monetize the traffic via affiliate programs. As I kept all costs close to zero and we’re already breaking even, money will be used on aggressive PPC, SEO and SM marketing.