Kommersant reports that it is a joint venture with Korea’s GS Shop, with the partners having pledged to invest $20 million in the project.
It adds that Rostelecom has already paid R3 million (€40,135) for the trademark rights to Boom and “I want to!” Rostelecom and GS Shop established a 60/40 joint venture named Boom in 2015 that sells teleshopping goods.
They also jointly own Boom Tv (80/20), towards which Rostelecom is contributing $12 million and GS Shop $8 million.
Boom TV was expected to make its debut at the beginning of this year and was in fact launched on August 1.
It is initially available on Rostelecom’s cable networks in Moscow and St Ptersburg, with a technical reach of 10 million people, due to the ease of delivering orders in the two cities.