Screentime
VTB, Abramovich Help Russian Streamer Ivi Raise $250 Million
- New investors contributed about 70% to Ivi funding round
- Ivi delayed IPO after proposal to limit foreign ownership
The Ivi.ru streaming service.
Source: Ivi.ru
This article is for subscribers only.
VTB Group and Russian billionaire Roman Abramovich are investing in Ivi.ru, the country’s most popular video-streaming service, as competition heats up for on-demand entertainment.
Russia’s second-biggest bank, the owner of Chelsea Football Club, and steel billionaires Alexander Abramov and Alexander Frolov’s Invest AG joined as new shareholders in a $250 million funding round, Ivi said in a statement Wednesday.