A 51% stake in the social networking site Rate.ee sold to EMT for 39 million Estonian kroons in 2005, marking Andrei Korobeinik as one of the youngest millionaires in Estonia at that time. Beyond this early financial success, he built a career spanning web development, venture investment, and legislative service within the Estonian parliament.
Technological Ventures
Born in 1980 in Pärnu, Korobeinik graduated from Pärnu Russian Gymnasium in 1998. He pursued undergraduate studies at the University of Tartu, focusing on mathematics and information technology. His most prominent digital project, Rate.ee, established his profile in the Baltic technology sector. By 2012, Serenda Invest, the company managing the portal, bought back the controlling share from EMT. This transaction returned direct oversight of the platform to him, though the specific financial terms remained undisclosed. He also conceptualized Flirtic.com, a dating platform that gained significant traction across Russia and Eastern Europe.
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Korobeinik expanded his professional activity into the venture capital space, serving as a jury member for the Estonian version of Dragon's Den and the television series Ajujaht. In 2008, he received the British Council's International Young Interactive Entrepreneur Award. His portfolio includes angel investments concentrated on internet-based start-ups. In 2010, he launched Cutefund.com, a platform intended to function as a crowdsourced mutual fund. While the project moved toward stock market participation, it maintained a demo mode for users to compete in virtual trading environments while awaiting regulatory licensing.
Political and Public Life
Korobeinik entered the Riigikogu on 6 April 2011, filling the seat vacated by Rein Lang following Lang's appointment as Minister of Culture. During his tenure, which concluded on 4 December 2013, he served as the chairman of the e-parliament committee. He returned to the legislature for a second term serving between 2019 and 2022. Outside of his business and political roles, he is a chess player and served as the president of the Estonian Chess Union, having been elected to the position on 20 November 2011.
Fast facts
- Born: 1980, Pärnu
- Education: University of Tartu
- Parliamentary Service: 2011-2013, 2019-2022
- Chess Union President: Elected 20 November 2011
- Key Business Asset: Rate.ee
- Recognitions: 2008 British Council International Young Interactive Entrepreneur Award
Questions readers ask
What is Andrei Korobeinik best known for?
He is recognized for creating the Estonian social networking site Rate.ee.
Did he serve in the Estonian parliament?
Yes, he was a member of the Riigikogu during two periods: 2011-2013 and 2019-2022.
Achievements
- Educated at University of Tartu
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