Russian startup Youdo.com recently received an investment commitment from new venture capital fund Flint Capital. Financial details about the transaction were not disclosed. However, the investment received from Flint Capital would go towards developing its product platform.
Youdo.com provides a service platform for users who requires assistance in everyday tasks. The platform would take in requests such as computer troubleshooting, translation services or housekeeping, and the platform attracts freelancers or service providers who could accomplish such tasks. Since its launch in April 2012, the service platform had received over 50,000 requests with an additional 500 new requests daily. Youdo receives a small commission once a service provider receives payment for each accomplished task.
Youdo had since been funded by its founders and angel investors, and had long been quiet about the investment commitments it had received. However, news agency RIA Novosti disclosed that the startup had accumulated USD1 million in expenses since it started.
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