Serge Faguet and Kirill Makharinsky are ex-Googlers who ditched Silicon Valley for Russia to start a hotels-focused travel site, Ostrovok.
The site, which will be launching next week, is coming out of the gate strong. It’s already raised $13 million from Accel, General Catalyst and notable angels like Peter Thiel, Mark Pincus and Esther Dyson.
Ostrovok.ru was founded in late 2010. Faguet and Makharinsky aren’t new to entrepreneurship. They studied at Stanford and Oxford, worked at Google and Slide, and founded Silicon Valley companies Tokbox, YouNoodle and Quid.Faguet tells Forbes that he started Ostrovok in Russia to minimize competition.
“Russia has many markets that are not dominated by anyone while in other countries similar markets have companies that are already worth billions. There is a lot of buzz but there are very few companies that are doing the right thing successfully.'”