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Russian hotel-booking giant Ostrovok tries to find its footing after slashing staff

Dennis Schaal

Skift Take

Don't write off Ostrovok yet, but clearly the Russia hotel site faces some huge challenges from Booking.com and the nature of the Russian market.

Serge Faguet, co-founder and CEO of Russia hotel-booking site Ostrovok, concedes that the company didn't always manage its growth efficiently, leading to its announcement this week that it was firing about one-third of the staff. That's not the greatest signal to be sending to the world just three months after raising $25 million in a Series B funding round. The three-year-old company, which is left with a staff of around 130 after the bloo

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