Search Results for: ozon

100,000 IT professionals left Russia this year, minister acknowledges

December 21, 2022

While IT brain drain is not new in Russia, the trend has accelerated dramatically in 2022 following Russia’s war on Ukraine, the subsequent international sanctions and new waves of political repression across the country.  Speaking at the Russian parliament on December 20, digitalization minister Maksut Shadaev provided his estimate of the number of IT professionals …

100,000 IT professionals left Russia this year, minister acknowledges Read More

Is the Kremlin betting on Wildberries to consolidate e-commerce as foreign players exit Russia?

November 23, 2022

In the first nine months of 2022 Wildberries saw turnover increase 95% year on year to over RUB1 trillion (around $16.5bn). The online retailer has enjoyed a wildly successful couple of years, it now dominates the Russian market and is almost twice the size of its closest competitor. Indeed, while it may not be a household name in the West, Wildberries …

Is the Kremlin betting on Wildberries to consolidate e-commerce as foreign players exit Russia? Read More

Ozon keeps 2022 80% turnover growth forecast, but losses increased in H1

September 8, 2022

One of Russia’s big three e-commerce company says it is sticking with its forecast for turnover growth of 80% this year, despite the sanctions and economic slowdown, Tass reported on August 23. E-commerce sites have benefited from the war as consumers have gone online to find goods that have disappeared from the stores after some …

Ozon keeps 2022 80% turnover growth forecast, but losses increased in H1 Read More

Russian e-commerce up 50% in H1 2022

August 12, 2022

The volume of online sales of physical goods in Russia grew 1.5-fold year-on-year in the first half of 2022 to 2.2 trillion ($27.5 billion at the pre-war exchange rate, or $36.4 at the current one), the Association of Internet Commerce Companies said on August 11, as reported by TASS. “Total online commerce amounted to 2.3 trillion …

Russian e-commerce up 50% in H1 2022 Read More

While failing to redeem some bonds, Ozon plans to reach operational break-even in next 12 months

June 4, 2022

Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …

While failing to redeem some bonds, Ozon plans to reach operational break-even in next 12 months Read More

Targeted by western sanctions, Sber has to part with key digital assets

May 20, 2022

Just weeks after Yandex sold its news aggregation and online entertainment services, another key player of Russia’s online ecosystem, Sber, has deprived itself from important digital assets.  A company called Novye Vozmozhnosti (New Possibilities) is the new owner of the music service SberZvuk (previously Zvooq.ru, acquired by Sber in Aprill 2021); the video streaming service Okko (aquired …

Targeted by western sanctions, Sber has to part with key digital assets Read More

After online orders doubled in 2021, Russian e-commerce keeps positive track in time of war

April 29, 2022

Russia’s domestic e-commerce market grew by more than 50% last year, reports research agency Data Insight, reaching 4.1 trillion rubles (around $55 billion at the average exchange rate). No less than 1.7 trillion orders were made, more than doubling (+104%) year-on-year — in which Data Insight sees an all-time record.  Online sales accounted for some …

After online orders doubled in 2021, Russian e-commerce keeps positive track in time of war Read More

Russian e-commerce major Ozon rules out any default risk, but trading still suspended on Nasdaq

March 29, 2022

Just weeks after warning of a potential bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.” “We see loyalty on the part of [securities …

Russian e-commerce major Ozon rules out any default risk, but trading still suspended on Nasdaq Read More

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

“A hurricane of discouragement:” Putin’s war on Ukraine is already impacting the Russian tech sector

February 27, 2022

Will Russia take control of Ukraine after a quick military victory? Will it be a long-lasting war of guerrilla? Could an escalation involve neighboring countries and western powers? The outcome of the Russian military attack on Ukraine that began on Thursday, Feb. 24, is unpredictable. But just hours after the invasion, the impact on the …

“A hurricane of discouragement:” Putin’s war on Ukraine is already impacting the Russian tech sector Read More

Russian e-commerce keeps growing fast: market leaders doubled sales in 2021

February 7, 2022

Earlier this week several top Russian e-commerce companies announced impressive results for 2021, even though brick-and-mortar retail fully reopened in the country. Market leader Wildberries, Nasdaq-listed Ozon, and international platform AliExpress Russia significantly overperformed the market, which grew by at least 40% according to preliminary estimates (InfoLine).  Wildberries: +93% Wildberries announced the turnover of its marketplace …

Russian e-commerce keeps growing fast: market leaders doubled sales in 2021 Read More

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