Adrien Henni

Vkontakte shareholder drama continues: UCP to sue Mail.ru Group and Ivan Tavrin

February 27, 2014 July 20, 2021

The Vkontakte shareholder drama saw new developments yesterday as United Capital Partners (UCP), which acquired a 48% stake in the social network last year, announced that it is suing the company’s two other shareholders in Russian and international jurisdictions. The Russian fund is accusing Mail.ru Group and Ivan Tavrin – who bought his 12% stake …

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Russia’s first hardware startup accelerator launches in Kazan

February 17, 2014 February 17, 2014

While startup incubators and accelerators have been springing up like mushrooms in Russia over the past few years, this one deserves particular attention. It is the first such structure in the country completely dedicated to hardware projects – from consumer robotics to 3D-printing to smart electronics for “smart home” systems and wearables. The accelerator, christened …

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Travel metasearch engine Aviasales secures $10 million from iTech Capital

February 11, 2014 August 9, 2021

iTech Capital, a Russian PE & VC firm, announced today an investment of $10 million in Aviasales.ru, a leading search engine for flights and hotel bookings. The terms of the deal have not been disclosed, but the firm told East-West Digital News it had obtained a stake of less than 30%. The company – which …

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Shipment providers and customs authorities agree simplified clearance procedures for e-commerce parcels

January 30, 2014 January 30, 2014

Following a meeting this past Tuesday with shipment service providers, the Russian Federal Customs Service announced that new, simplified customs clearance procedures for e-commerce parcels will be introduced immediately. “Not only will all the problems raised by the shipment companies be solved, but electronic procedures will be introduced in the next two weeks” to make …

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World Bank Group’s IFC invests €10 million in online fashion retailer Lamoda.ru

January 28, 2014 January 28, 2014

Lamoda, a leading Russian online fashion retailer, announced today an equity investment of €10 million from IFC, a member of the World Bank Group. This investment – the first by IFC in Lamoda – aims to “support the company’s expansion as well as enable Lamoda to consolidate its sustainable growth while further raising environmental, social …

World Bank Group’s IFC invests €10 million in online fashion retailer Lamoda.ru Read More

Vkontakte founder sells his stake while the social network sets new traffic record

January 27, 2014 January 27, 2014

Pavel Durov, the founder of VKontakte.ru (VK.com), Russia’s leading social network, has sold his 12% stake in the company to Ivan Tavrin, the general director of mobile operator Megafon and a member of the Mail.Ru Group‘s board of directors. In his post on Vkontakte, Durov said that he would continue to oversee the company’s functioning …

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DHL, DPD and FedEx suspend operations, boycott of eBay urged – but cross-border sales to continue

January 24, 2014 January 24, 2014

Clouds are gathering in the sky of cross-border sales to Russia – a market that reached approximately $3 billion in 2013 after years of up to 100% growth. Earlier this week, DHL Express, DPD and FedEx, three international shipment providers, announced the suspension of shipments to Russian consumers, while another courier, UPS, was considering a …

DHL, DPD and FedEx suspend operations, boycott of eBay urged – but cross-border sales to continue Read More

Delivery Club secures $8 million from Phenomen Ventures, AddVenture and Guard Capital

December 18, 2013 December 18, 2013

Delivery Club, a Moscow-based online food delivery service aggregator, has completed its fourth round of financing with $8 million secured from Phenomen Ventures as well as from existing investors AddVenture and Guard Capital. The startup had initially raised $400,000 in 2009, then $1 million from AddVenture and prominent Russian businessmen in 2011, then again $4 …

Delivery Club secures $8 million from Phenomen Ventures, AddVenture and Guard Capital Read More

Global game developer Nival raises $6 million from Russia’s Almaz Capital

December 12, 2013 October 6, 2016

Nival, a global developer of cross-platform strategy games, announced today that it has secured $6 million from the Russian fund Almaz Capital to fuel its global expansion strategy. The valuation of this Series A round has not been disclosed. To date Nival has been financed by CEO and founder Sergey Orlovskiy, who holds a majority …

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Mail.ru Group “invades America”

November 22, 2013 November 22, 2013

Earlier this week the Mail.Ru Group, a top Russian Internet group listed on the London Stock Exchange, announced the US launch of My.com, which is developing English language communication and entertainment applications. By installing its subsidiary in the heart of Silicon Valley, the group is following in the footsteps of Russian tech giants such as …

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Global online retailer Modnique launches its first localized site in Russian

November 18, 2013 November 18, 2013

Modnique, a global fashion e-commerce company headquartered in Southern California, announced today the inauguration of a Russian site, which is the company’s first localized e-retail outlet. Modnique.com/ru includes regional style preferences, full Russian language capabilities and local payment methods, enabling its Russian consumers to shop for globally sourced brands in the same way as English-speaking shoppers. …

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Skolkovo misused $1 billion, Viktor Vekselberg personally cited in prosecutor’s report

November 13, 2013 November 13, 2013

The image of Skolkovo, the international innovation hub under completion on the outskirts of Moscow, has been severely damaged by a report from the Prosecutor General’s Office following an across-the-board investigation into the Skolkovo Foundation, the nonprofit organization in charge of the project. The report states that 50 billion rubles (around $1.6 billion) were allocated …

Skolkovo misused $1 billion, Viktor Vekselberg personally cited in prosecutor’s report Read More

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