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Playrix fully withdraws from Russia and Belarus, keeps operating in Ukraine

October 30, 2022

Playrix today announced it is fully withdrawing from Russia and Belarus, “due to the continued aggression against Ukraine and in order to maintain its operations.” The Russian-founded global mobile gaming giant will “close all the company’s offices” and “shut down all operations of its studios” in Russia and Belarus. The remaining staff will be “relocated from Russia and Belarus …

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Silicon Valley billionaire Yuri Milner renounces Russian citizenship

October 26, 2022

Billionaire Silicon Valley investor Yuri Milner said Monday he had renounced his Russian citizenship. “My family and I left Russia for good in 2014, after the Russian annexation of Crimea. And this summer, we officially completed the process of renouncing our Russian citizenship,” the Moscow-born Milner tweeted. Milner, founder of the internet investment firm DST Global and …

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How Russian game developers have been hit by the shockwave of war

July 7, 2022

Russia’s war on Ukraine and the subsequent western sanctions seem to have put the once-thriving Russian and Belarusian gaming industries in serious trouble. It took just weeks to Wargaming, the Belarusian-born, Cyprus-headquartered developer of World of Tanks and World of Warships, to react to the events. In early April, the company announced its decision to “leave Belarus and …

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China’s payment card giant UnionPay backs away from Russia

April 29, 2022

China’s UnionPay system refused to cooperate with Russia’s biggest lender Sberbank and suspended talks with other banks for fear of secondary sanctions, the RBC news website reported Wednesday.  Russian banks planned to issue cards using UnionPay after Visa and Mastercard suspended operations last month in compliance with sanctions imposed over Moscow’s invasion of Ukraine. The Russian …

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Yandex delivery and mobility activities stopped or threatened in US, UK, France, Latvia, Estonia

April 4, 2022

Yandex, the Russian digital giant whose Nasdaq stock trading has been suspended since Feb. 28, laid off over two dozen US-based workers last month, reported The Verge.  Yandex had been operating a small fleet of driverless cars in Ann Arbor, Michigan. Yandex said the vehicle licenses were suspended by the state authorities — which Michigan denies. …

Yandex delivery and mobility activities stopped or threatened in US, UK, France, Latvia, Estonia Read More

How two Russian-founded startups in the US became collateral victims of Putin’s war on Ukraine

March 14, 2022

After Russian entrepreneurs asserted themselves last year as chief disruptors in the global food delivery industry —  fulfilling orders in around 15 minutes in a variety of Western cities — some of them are now falling as collateral victims of Putin’s war on Ukraine.  In early March Buyk — a fresh food delivery service with sizeable operations in New York and Chicago — abruptly …

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Russian VC Alexey Solovyov: “In the globalized Russian venture community, the impact of the sanctions will probably be attenuated”

March 2, 2022

As the Russian economy seems to be sinking as a result of the western sanctions, Alexey Solovyov, a figure of the Russian venture scene, has a nuanced analysis of the impact on his industry. From a deal cancelled to the disruption of an essential banking service, the crisis has already affected his firm and portfolio …

Russian VC Alexey Solovyov: “In the globalized Russian venture community, the impact of the sanctions will probably be attenuated” Read More

Meet Vladimir Kiriyenko, the new CEO of Russia’s top Internet group VK

January 6, 2022

In mid-December VK Company, a leading Russian Internet group previously known as Mail.ru Group, appointed Vladimir Kiriyenko, the son of a top Kremlin official, as its new chief executive. The LSE-listed group controls Russia’s top social networks (VKontakte and OK) and a variety of other internet businesses. The move followed the takeover of VK by companies affiliated …

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Russian e-commerce leader Wildberries makes first steps on UK market

December 21, 2021

Wildberries, the number one Russian e-commerce company, has launched sales on the UK market, its “19th country of presence.” UK customers can find on the site no less than 5.5 million goods from 164,000 international brands — from apparel and footwear, to beauty goods, toys, electronics and books — says Wildberries, cited by the TASS …

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Flint Capital’s new $103 million fund already claims two successful exits

December 10, 2021

In June this year Flint Capital, a Boston-based venture firm with Russian roots, closed its second venture fund, attracting $103 million to invest in startups from Seed, to Series A and B stage startups.  The firm publicly announced its new fund only this week, as it already invested in no less than 18 startups with two successful exits — Loom …

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Russian-American startup TraceAir secures $5 million to address “burning needs” in US construction industry

November 30, 2021

Less than one year after securing its Series A round ($3.5 million), TraceAir, a construction software startup with Russian roots, has attracted $5 million from Flashpoint Venture Capital, reports Rusven. Founded in 2015, TraceAir has developed a cloud platform to help construction companies control quality and costs with the help of drone data, smart analytics and an …

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Russian jewelery made available to Western European consumers via Zalando

January 20, 2022

Jewelery lovers from France, Germany and Italy can now buy creations from Sokolov, one of the most established Russian jewelers, through Zalando. Sokolov is the first Russian jewelery brand to have made its products available on this major Western European marketplace.  Zalando customers can receive these Russian-made items within just 1-2 days (premium service) or …

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