Wikimart (Vikimart)

WIKIMART – the Russian on-line the shopping center implementing as own goods made under the WIKIMART trademark and goods of other brands. Wikimart was created in 2008 by Kamil Kurmakayev and Maxim Faldin who at that time underwent study in the USA. Initially Wikimart thought as the platform for sales of goods from other online stores (aggregator), but then the company began to sell goods also independently.

History

2020

The former head of Wikimart got off with probation for waste of 124 million rubles

On May 7, 2020 it became known of a sentence which the Golovinsky district court of Moscow  pronounced concerning Andrey Klenin. The former CEO of online retailer Wikimart is found guilty of complicity in waste (Part 5 of Article 33 and Part 4 of Article 160 of the Criminal Code of the Russian Federation) of 124 million rubles and received 3.5 years conditionally. Read more here.

The court declared bankrupt the founder of Wikimart

On February 26, 2020 it became known of Maxim Faldin's bankruptcy. More than 30 creditors demanded from the co-founder of the closed online retailer Wikimart about 200 million rubles. Read more here.

2016

Wikimart died: The Moscow office is locked, employees take away the equipment

The online retailer Wikimart created in 2008 and representing about 2 million goods closed the Moscow headquarters. In December the Roem.ru resource with reference to the staff of office reported about it. Official version: a delay on tenancy payment.

Employees of Wikimart said to the edition that the office is sealed now, and a part of collective works far off. Employees also complained of wage arrears including at that who left earlier.

"Did not pay much already since the beginning of November and still after dismissal did not pay kopek", - one of employees whose name is not given explained. "All employees counted the equipment from office ZP. It was the horror: huge queues, nervousness, and everyone took itself(himself) already though some notebook or the TV which was on balance at office", - he says. The source in Wikimart adds that many of his colleagues "already asked in state structures for the help". Wikimart which in fact is the Internet platform for trade online integrates about 8 thousand online stores with own retail^[1].

Co-founder of Wikimart: The company was "plundered" and it "died"

The co-founder of online retailer Wikimart Maxim Faldin announced in December, 2016 on the page on Facebook that the company will be announced by the bankrupt soon.

Vikimart died, - he categorically claims. - Vikimart which we with Kamil (Karmakayev, - a comment of CNews) founded in the summer of 2008 ceased to exist. Still there is a legal entity (it will be declared bankrupt in February), it has a CEO (if not the fool, leaves until the end of the year). But there is no company any more".

The company was "plundered"

"Last week, after almost two-year break, I spent one and a half days to the companies, - Faldin continues. - So it turned out that majority shareholders threw it, and from minority I one appeared in Russia. For these one and a half days it was convinced that the company did not have assets which can be saved and competences which can be saved. 20 months of my absence allowed "professional" top managers to destroy the company on money of "rich" oligarchs. For these 20 months they spent (in rubles) twice more, than we with Kamil for all history of the company, from the moment of foundation in 2008 till August, 2014. And everything was about. by ANO it is also plundered. But in the most part about. ANO (spelling and a punctuation of the original - a comment of CNews)"^[2].

The CEO of Wikimart Andrey Klenin disproves Faldmin's statements about what in the company was plundered. As for bankruptcy, by words, court's decision for this purpose is necessary, and it is absent.

2015

In 2015 at Finprombank problems then Wikimart also faced non-payments began. The Alliance group of the entrepreneur Moussa Bazhaev was engaged in financial improvement of Finprombank. The same group since the end of last year received control in Wikimart. Recently to Wikimart a large number of legal claims from different suppliers was submitted. One of them - Lyuks-trade - requires to declare through Arbitration court of Moscow Wikimart bankrupt.

2014: The American investment fund Tiger Global Managment (TGM) sells the most part of a share of Wikimart online store to the Russian shareholders, having reduced a packet to minority

The controlling stake of Wikimart in the fall of 2014 was redeemed by shareholders of Finprombank, one of whom is the chairman of the board of directors Anatoly Goncharov who before was already owning a minority share of online store. Names of other shareholders participating in the transaction as well as the amount of the redemption, do not reveal.

The co-founder and the CEO of online supermarket Maxim Faldin explained to the reporter of ComNews that if earlier TGM had more than 50% of the capital, there are less than 10% now. However it does not mean that the investor sold 40%. A part of the transaction are investments into the company ($40 million) which are made by the Russian shareholders therefore shares of the others are in proportion blurred. Faldin did not begin to open exact indicators.

According to information of Roem.ru, Goncharov in addition to a minority share of Internet supermarket owned a share of retailer "Терминал.ру" with whom consolidation Wikimart announced in September. In the new transaction the Goncharov's share exceeds a cumulative share of shareholders of Finprombank, approves the edition.

According to the analyst of IH of Finam Anatoly Vakulenko, the TGM fund is guided by projects which have chance of the IPO in five-year perspective, and invests quite large amounts. "When the fund invested, arguments against the fast and successful IPO of the large Russian project in the field of e-commerce were not. Even in the spring company executives believed that after 2016 the company will be ready to the IPO", - Vakulenko reminds. In a present situation in connection with fall of stocks of hi - tech - the companies and country ratings is preferable the strategist who can take synergy from several projects in the field of e-commerce, the expert believes.

As Faldin told, the transaction purpose – to create the leader of e-commerce in Russia that will demand to change the strategy of the company. If now Wikimart is "online show-window" where sellers have an opportunity to offer the goods for sale, then it is in the future going to put emphasis on opening of offline stores. "Терминал.ру" which has about 40 sales points should help with it. On its base it is going to create "shops of terminal service" where the buyer will be able to receive a part of goods at once, and a part – next day. As a result turnover of the united company in 2015 should grow to $500 million.

Vakulenko estimates the Russian market of e-commerce as mature and very competitive. The long competition for an opportunity quicker and more qualitatively to satisfy needs of the user is necessary to shops. "Such market is preferred by strategic investors who already own similar assets, but for venture investors it has smaller attractiveness", – the analyst considers.

The representative of Finam is positive for transaction perspectives. "Certainly, the strategic investor will provide to the company more sustainable development now, than would provide portfolio which constantly reflects on the way out", - the expert concluded.

2013

In 2013 turnover of the company made $130 million, in 2015 - $250 million.

2009

In 2009 the controlling stake of the retailer was acquired by Tiger Global fund. For only several years the company attracted private investments for the total amount about $30 million.

Notes