Yandex.Taxi, the taxi-hailing company which merged activities in Russia and some neighboring countries with Uber last year, is planning a new acquisition to expand across Russian regions. The company (formally called MLU) announced today an agreement to acquire the IP and call-centers of Vezet, a taxi-hailing service which is available in 123 Russian cities under …
Earlier this month Emerging Travel Group, an international online travel group with Russian connections, announced it raised $10 million in a Series E funding round. The investors are Russian-Israeli tech investor Lev Leviev – through his investment company LVL1 Group – and Igor and Dmitri Bukhman. The company hopes the investment will help it accelerate the …
Emerging Travel Group secures $10 million from Lev Leviev, Igor and Dmitri Bukhman Read More
Baring Vostok, a major Moscow-based international PE firm, has acquired 5% stake in Tealsy, Russian business daily Kommersant reported last week. The financial details of the deal were not disclosed. This Moscow-based startup brings together e-shoppers, retail networks and suppliers by proving a single online platform where they can meet one another to trade food products. Tealsy …
Tealsy online food products platform attracts investment from Baring Vostok Read More
Russian private equity fund ExpoCapital and several foreign business angels have jointly invested $2.5 million in SmartPrice, a Moscow-based online store that trades in used smartphones, Forbes Russia reported.in late June. The exact amounts of investments by the parties were not been disclosed, but the founders of the project are said to have retained the majority stake. In …
SmartPrice attracts $2.5 million to sell used smartphones online Read More
Addressing the lack of internationally-available information on Russian e-commerce, East-West Digital News has just released an in-depth study on this market. Among EWDN’s partners in this initiative are Data Insight, Russia’s leading data provider in this field, the E-Commerce Russia Association (NAMO), Ecommerce Foundation, an international expertise center based in the Netherlands as well as such …
Russian e-commerce is entering accelerated development cycle, says new EWDN report Read More
A new marketplace could emerge soon on the Russian cross-border e-commerce scene, offering Russian online consumers goods from China and Southeast Asia. Dubbed ‘Sputnik,’ the project is backed by Evgeniy Sobolev and Vladimir Stupnikov, co-owners of the iMars communications group, who own 66.7% and 33.3% shares of the company respectively, Kommersant business daily reported. The founders did not …
Marketplace project ‘Sputnik’ aims to bring cheap Asian goods to Russian regions Read More
Golama, a leading e-grocery delivery service based in Moscow, will receive 500 million rubles (about $7.7 million at the current exchange rate) from a state investor after just one year of operations. The investment will be provided by Veb Ventures (previously known as VEB Innovations), a venture fund launched by Vnesheconombank in 2011 to support innovative …
E-grocery service Golama to receive $7.7 million from state investor Read More
Russian online retailer Ozon may consider an initial public offering (IPO) in two years once it has increased its share of the Russian e-commerce market, boosted sales growth and improved infrastructure, its chief executive Alexander Shulgin said. Speaking on the sidelines of the St Petersburg economic forum, Alexander Shulgin said Ozon currently has a no …
Yesterday Alibaba, Mail.Ru Group, Russian telco MegaFon and sovereign fund Russian Direct Investment Fund (RDIF) announced they received approval from Russia’s antimonopoly authorities for their “social commerce joint venture.” The JV will leverage on the existing businesses of AliExpress Russia, the B2C marketplace owned by Alibaba which controls a large part of the e-commerce flows between China and Russia. The partners …
Lamoda, a Western-founded and managed Russian e-commerce leader in the fashion segment, saw its sales surge by 23.5% year-on-year in Q1 2019. During this quarter, the platform’s sales exceeded €111 million, including Lamoda’s business in Russia, Belarus, Ukraine, and Kazakhstan. Also included in this number are Lamoda’s marketplace sales. These grew more than threefold in …
Lamoda posts 23.5% sales growth year-on-year, develops marketplace model Read More
Tinkoff Bank, a tech-friendly Russian bank, has launched an own-branded online travel agency. The offer includes air and railway tickets, packaged tours, hotels and car rentals. Since April 2018, the bank has put around $2 million to develop this travel service platform, the press service told us. However, the platform worked so far “as a …
Tinkoff Bank positions itself on Russia’s $15 billion online travel market Read More
As the Russian e-commerce market a promising development cycle, with many domestic and foreign players reporting record sales growth, market research agency Data Insight recently released a study on the local fulfilment service market. Here are the key findings of this report (the full version is available only in Russian language): The Russian fulfilment service market …
Report: Russian fulfilment service market exceeds $200 million Read More
