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According to Xnet and its majority shareholder Hansapost, part of the investment will be used to launch a new platform for the Xnet online store, providing convenient and safe online shopping for every customer. The company also plans on extending its warehouse stock, increasing the volume of products and reducing the delivery times.

As reported, the Estonian e-commerce and distance trade leader Hansapost has become the majority shareholder in the Latvian online store Xnet after acquiring 70.05 percent of the company's shares.

Kovalovs said that the company is not planning any major strategy changes, and will keep its current brand unchanged. The company also intends to continue expanding its cooperation with the partners.

Estonia's Hansapost is an e-commerce and distance trade company founded in 1997. The company's turnover in 2014 was more than ten million euros.

Xnet is the owner of Xnet.lv and Aboluveikals.lv. Xnet.lv was founded in 2003, but Aboluveikals.lv, which is the only official Apple online store in Latvia – in 2007.