Startups from Russia and other countries in the former Soviet Union offer extraordinary tech solutions, but international tech giants prefer buying their “brains” rather than their products or businesses. A part of this trend is the recent deal between Snap and Teleport, a Russian-Ukrainian startup that changes hair color.
As reported by East-West Digital News, Snap Inc. bought Teleport’s technology and team, showing no interest in the company itself and virtually depriving it of any substance.
Selling brains: US tech giants buy teams, not startups, from Russia and Eastern EuropeRead More
Topics:
Analysis, Finance, International, M&A, Startups
