UPDATED: Former CEO PayU Romania, Cristian Herghelegiu took over as CEO at Elefant.ro

(adds info on platform’s results in 2012 and more details on the plans for 2013)

In 2012, Elefant.ro had Euro 3.6M turnover, with record revenues of Euro 1.4M in Q4, more than the entire 2011.

One of the main factors that supported the positive evolution is represented by our orientation towards creativity in online marketing, to which we gave significant budgets. A deciding differentiation way compared to the competition is also our prices policy, in which we give to the client the discount we get from our suppliers. We want to get books out from the niche area they are now and make them accessible to as many people as possible

Ion Sturza,

President Management Board Elefant.ro

The market where elefant.ro is active is one in continue development and with a continuous growth potential, in tandem with the fast evolution of the online medium. It offers constant to players new opportunities such as dedicated solutions and apps.

For 2013, Elefant.ro estimates a growth of 30% of the specialized market.

For this year, we are estimating an organic growth of the e-commerce market of around 30%, as the European average is of 20%. Romania still has a lot of potential in e-commerce, with the dynamics of this sector aiming to reflect in next year’s evolution

Ion Sturza.

In 2013, the company will continue the investments started in 2012 and started expanding on new business verticals, which are an important growth objective for the online retailer.

In 2012, elefant.ro added toys to its products’ offers, an extended range that goes from classical toys to most elaborated gadgets for kids, board-games or computer games.

When it comes of books, the main income growth engine for elefant.ro revenues, the Romanian market is in line with the international trends, with most popular categories being fiction, kids books and the practical books such as motivational ones or guides.

Once with the new management of Universal Online Promotion, the company also appointed a Consultative Council to optimize the decisional process and its expansion towards new business lines. The council includes Dan Vidrascu, Diwaker Singh, Ion Sturza, Radu Georgescu, Sergiu Chirca and Orlando Nicoara.

In February’s start, Romanian press was announcing that Cristian Herghelegiu, until recently CEO of PayU Romania, took over as CEO at Elefant.ro, biggest online book store in Romania.

The info was confirmed by Herghelegiu for Wall-Street.ro. He also added that he decided to quit PayU in the end of last year, but didn’t give, for the moment, more details on this change. Herghelegiu has over 15 years of experience in IT and, since May 2011 until recently, he worked for PayU, first as Strategy Director and than as Country Manager.

Elefant.ro was launched in June 2010, when the project got an Euro 1.2M investment from Greenlight Invest, investment fund controlled by Ion Sturza, former prime minister of Moldavia and former deputy general manager of Rompetrol.

According to Paginademedia.ro, that quotes Ziarul Financiar, Elefant.ro registered a change of shareholders, with 6% of shares going to Orlando Nicoara, general manager Mediafax Group, Radu Georgescu and Diwaker Singh, former CEO Zapp. According to available info, the 3 will also enter company’s consultative council.