ONEXIM Group and Sputnik Group to partner with Witology for developing a new generation social platform
February 8, 2011
Witology, ONEXIM Group and Sputnik Group have reached an agreement for joint investment into the development of new-generation business platforms based on social networks.
Witology is a company developing a radically new crowdsourcing platform. The Witology platform exposes the key issues facing complicated projects which could be addressed through searching for and attracting the most enthusiastic, competent and efficient experts representing any industry and located anywhere in the world, using Internet technologies.
Witology has grown rapidly over the past two years. Within this timeframe, the company undertook a number of technical and methodological surveys, successfully implemented a pilot project and launched a BETA version of the platform.
During the first round of investments (Series A Funding), ONEXIM and Sputnik Group will purchase a $5 mln stake in Witology equity. This will allow the project team to undertake in-depth research and development, to complete BETA testing, to launch the RTM (release to manufacturing) version of the platform, and to commence its client service.
As a result of the deal, Sergey Karelov and Alexander Oslon, the founders and ideologists behind the Witology project, will retain 50.06% of the company shares, with ONEXIM holding 41%, and the Sputnik Group accounting for the remaining 8.94%.
Sergey Karelov and Alexander Oslon are confident, and maintain that «the technology developed by Witology can revolutionise Social Networking and Enterprise 2.0». They add that «Developing collective intelligence technology based on crowdsourcing is the roadmap of today’s Internet-business. There are more and more practical applications of this technology. It is highly likely that in the future all areas of operation will attract smart people from outside to solve internal problems. The same will apply to facilitating social networking processes. What we were looking for was not just an investor, it was more of a strategic partnership, which was exactly what ONEXIM and the Sputnik Group offered.»
Dmitry Razumov, the General Director of ONEXIM Group, noted, «We believe that Russia has a unique intellectual and creative potential, and in order to harness this potential, requires brand new technologies. We expect the project to achieve a great breakthrough in both traditional and innovative sectors of the Russian economy in the near future. We believe that the value of the project will grow exponentially in the near future».
The Sputnik Groups has always been interested and proactive in investment into innovative projects, according to Boris Jordan, the company’s President. «Witology clearly belongs to this category. Moreover, this project is one of the very first signs of the future global trend for specialised social networks operating to solve business issues. It is not only interesting to ride the crest of the trend wave but it is also likely to be lucrative. The uniqueness of Witology’s know-how lies in the fact that it merges the latest achievements in social networking with break-through approaches to creating collective intelligence and the promising technologies used in social networks to involve bright and competent people to resolve the most challenging issues in business, education, culture, law, foreign relations and other areas specific not only to business, but also to institutions and civil society. It is interesting for me personally too».
Witology operates in the area of collective intelligence. The company is developing a new social platform that would assist in identifying and solving key problems in complicated projects. The company was founded by Sergey Karelov and Alexander Oslon.
Sergey Karelov is a renowned expert and consultant for the IT business with over
30 years of experience, including top positions at Interquadro, IBM, and SiliconGraphics. Chairman of LINEX — League of Independent IT Experts.
Alexander Oslon, Cand. Sc. [Engineering], is an expert in the area of data analysis and one of the founders and the President of the Public Opinion Foundation (since 1992).
ONEXIM Group is one of the largest private investment funds in Russia with a diverse portfolio in mining and metallurgy, mechanical engineering, finance, real estate, media, energy, and nanotechnologies.
The Sputnik Group
The Sputnik Group is a company dealing with direct investments and M&A consulting in Russia and overseas. The financial sector, internet and biotechnologies are among the key focus areas of the company’s investment portfolio. The major investments include Renaissance Insurance, NGPF «Renaissance Life and Pensions» and «Sputnik — Capital Management» holding company.