Ostrovok.ru is a Russian online hotel booking service founded in 2010 by Serge Faguet and Kirill Makharinsky with HQ in Moscow.

The company was founded in 2010 by Russian entrepreneurs Serge Faguet and Kirill Makharinsky after attracting the first investment of $13.6 million from several foreign investors.

[2] The event was attended by representatives from Google, Yandex, Booking, British Airways, and other notable companies.

[3][4] Later, the Extranet service was launched to manage the accommodation objects, and the first direct contracts with hotels were signed.

[7] In April of the same year, Ostrovok.ru entered a partnership agreement with the Australian hotel metasearch engine HotelsCombined; which allowed for cross-organizational data sharing.

At the end of the year, Ostrovok was included in the list of the best startups according to the magazine The Firm's Secret, ranking fifth in the overall standings and first in the category "Leisure and entertainment.

[23] Later that year, one of the company's first investors joined the board of directors, Fritz Demopoulos, also a co-founder of the largest online booking service for hotels and air tickets, Qunar, in China.

Felix Shpilman replaced him as CEO, having worked at Ostrovok.ru since 2013, first as vice president of strategy and then as a manager of the company's core operations.

[25] To launch the online service, Serge Faguet and Kirill Makharinsky attracted $13.6 million worth of investments from a number of international investors, including General Catalyst Partners, Accel Partners, Peter Thiel and Founders Fund, Niklas Zennström and Atomico Ventures, Mark Pincus, Esther Dyson, Fritz Demopoulos, Sebastien de Hallo, Naval Ravikant, Felix Shpilman, Scott Banister, James Hong, and Sam Schank.

According to the company, all funds were spent on improving the partnership network and increasing the number of call center employees as well as developing existing and new products.

[31] According to Serge Faguet, he has invested $2 million of his personal funds in the company since its existence, and he remains one of the largest shareholders in the business.