Cross-Border Sales

Celebrating the .RU – A look back over two decades of the Russian Internet

April 30, 2014

The birth of the .ru extension in April, 1994 has come to symbolize the beginning of Russia’s domestic internet history. Now, twenty years later, East-West Digital News co-founder Andrew Zotov, a pioneer of the industry, recalls these earlier times. The early days The Internet appeared in Russia well before 1994, with the first local service …

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Ozon receives giant funding from AFK Sistema and MTS

November 29, 2018

Ozon Holdings, one of the most established players on the Russian e-commerce scene, announced today a $150 million funding deal with AFK Sistema, a Russian LSE-listed holding operating in a range of industries, and its subsidiary MTS, a leading mobile operator and retailer. [See Sistema’s investor presentation of the deal.] The transaction marks the most significant investment volume …

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Wikimart seeks $40 million despite “complicated” market circumstances

April 2, 2014

Russian e-commerce site Wikimart hopes to raise “$40 million or more” later this year or in early 2015, co-founder Maxim Faldin said earlier this week to Russian business daily Vedomosti. “We’re not in a hurry because the market situation is unclear,” Faldin said, citing the “complications” which have followed the Russia-Ukraine crisis and the ruble’s …

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Billionaire Usmanov aims at China after Apple, Facebook sale

March 18, 2014

Billionaire Alisher Usmanov sold shares in Apple Inc. and Facebook Inc., focusing on technology investments in China such as Alibaba Group Holding Ltd. and may expand stakes in Russian assets, an executive said. “Chinese companies account for about 70 percent to 80 percent of the portfolio of our foreign Internet investments,” Ivan Streshinskiy, head of …

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Venture funds ABRT and Mangrove offer 10-week training and networking program for CEOs of young IT companies

March 15, 2014

ABRT and Mangrove Capital Partners, two venture funds investing actively in Russia, are inviting CEOs and founders of Russian IT companies to the ABRT-MANGROVE CEO CAMP, an intensive 10-week program starting next month (deadline for applications: March 23). The program is intended to help young IT companies increase sales significantly, find new customers and partners, …

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Russian e-commerce leaders Ozon and Ulmart in funding talks

March 13, 2014

Two leading Russian online retailers, Ozon and Ulmart, are holding discussions with investors to fuel expansion in a market that grew by almost 30% last year. Ozon, a pioneering e-commerce holding with notable similarities to Amazon.com, is in the final stages of talks with AFK Sistema, a Russian LSE-listed holding operating in a range of …

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Spotify eyes Russian market

February 25, 2014

Since its launch in Sweden in 2008, Spotify has asserted itself as one of the most popular music streaming service of its kind globally. The company serves more than 25 million users and paid subscribers in almost 30 markets, from Western and Eastern Europe to the USA, Mexico, Hong Kong, Malaysia, and Singapore. Spotify is not yet available to …

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Enter and Ulmart open their websites to third-party retailers

February 19, 2014

Earlier this month two major Russian multi-channel retailers, Enter and Ulmart, announced almost simultaneously their plans to let third-party merchants sell or promote offers via their sites. “Amazon’s Marketplace generates almost 40% of their sales, and I think we’re going the same way,” said Maxim Nogotkov, the Russian billionaire who backs Enter.ru, speaking to the …

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German consumer-finance startup Kreditech arrives in Russia

February 12, 2014

German startup Kreditech, a German startup aiming to become “the Amazon for consumer-finance”, has entered the Russian market. It offers micro loans to consumers and also provides a credit rating service for enterprise customers. The startup’s founders Sebastian Diemer, Alexander Graubner-Müller and Felix Haas believe that their algorithm, which processes over 8,000 data points in …

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Yandex invests in MultiShip: A perfect match on the Russian e-commerce service scene

January 31, 2014

Yandex announced earlier this week an agreement with MultiShip, a Moscow-based startup that aggregates offers from different shipment companies to help online retailers optimize their deliveries across the country. In addition to acquiring a stake in the startup for “several millions,” the NASDAQ-listed Russian search giant has purchased MultiShip’s software platform for $1 million, with …

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