Former head of VK and founder of KupiKupon to establish IT-holding in Uzbekistan

The former head of VKontakte, B. Dobrodeyev, and the founder of KupiKupon, J. Jumaev, plan to establish an IT-holding in Uzbekistan. This was reported by RBC.

The entrepreneurs say they plan to create an IT holding company called Uzum together with local companies in Uzbekistan. Dobrodeyev became an adviser to Uzum and was given a set of holding options.

The holding company now includes AKB Kapitalbank, the Uzum Market marketplace, the Uzum Nasiya installment service, and Uzum Bank (formerly a subsidiary of Kapitalbank, Apelsin Bank), a digital bank. The company will soon launch ready-to-eat and grocery delivery from shops and restaurants.

As Dobrodeyev and Jumaev explain, the company plans to combine the business model of Russian services Delivery Club and Ozon fresh. For this purpose, it plans to develop a network of darkstores across the country, but Uzum did not disclose details. Delivery of ready-made own food is not considered, as the partners consider this model unprofitable

"Uzum is now negotiating with the largest international investment funds in the Middle East. By the end of 2023, we plan to raise about $300 million. These funds have shown interest in the asset themselves, they liked our business model," Jumayev said.

Part of the VKontakte and AliExpress Russia teams, as well as former employees of Ozon and Yandex, have joined the holding company's project.