"We are currently talking with several investors, including Ilja Laurs. We are considering several investment options and possible forms of cooperation. We expect to reach an agreement with a potential investor this year," Mykolas Majauskas, a member of the management board at the Pigu Group, told BNS.
Laurs, the founder of GetJar, one of the world's leading mobile application stores, confirmed to BNS last Monday that they were in talks with Pigu.lt.
Majauskas, an economic and financial advisor to the former Prime Minister Andrius Kubilius, joined the Pigu Group's management board in mid-December. His task is to advise the group on investment and merger and acquisition matters.
According to data from the Center of Registers, Kokybės Kubas, a real estate company, owns 45.9 percent of shares in Pigu. Amazing Cili Invest, an investment company controlled by Lithuanian businessman Tadas Karosas, holds a 35.1-percent stake.
Pigu has said that total revenues of its two online shops almost doubled in January through November year-on-year to 72 million litas (EUR 20.9m). The group projected 85 million litas in revenues for the full year 2012.
Pigu.lt holds a 35 percent share of the Lithuanian e-commerce market. Pigu says that the group employs more than 110 people.
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