E-Commerce

Russian supermarket delivery service attracts $1.9 million from local investors

November 12, 2020

iGooods, a Saint Petersburg supermarket delivery service, has attracted 123 million rubles (roughly $1.9 million at the current exchange rate) in exchange for a 24.6% stake in the company. The news was reported by Russian business daily Vedomosti this Monday. The investors included Moscow-based venture fund SOL Ventures, ex-partners at the venture fund Quadriga Capital Russia, …

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MTS increases its share in Ozon

May 23, 2018

MTS, a leading Russian telecom operator, announced earlier this month that it increased its stake in Ozon Holdings, one of the most established Russian e-commerce companies. The operator now own 16.7% of Ozon, up  from 13.7% previously, following “a series of transactions with minority shareholders.” MTS invested in Ozon in April 2014, acquiring a 10.8% …

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Leroy Merlin teams up with IIDF to accelerate Russian retail startups

May 7, 2018

The French DIY giant Leroy Merlin has partnered with the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, to launch an accelerator for retail startups. The program will target startups developing marketing software, automation and robotization solutions for internal operations in the field of logistics, solutions for heavy trucking …

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SmartPrice raises $2.5 million to sell used phones online

April 27, 2018

SmartPrice, a Russian online platform selling used mobile phones, has attracted “roughly $2.5 million” from several funds and individual investors since its inception last year. The news was reported earlier this week by Russian online publication Vedomosti. The startup was launched a year ago by Alexander Chernyak and Artem Bolshakov, the founders of CarPrice, Russia’s major online …

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Mail.Ru Group launches online pharmacy

April 20, 2018

Last week, just four months after telemedicine became legal in Russia, Mail.Ru Group, the LSE-listed Russian Internet giant, announced the launch of an online pharmacy. Dubbed ‘All Pharmacies,’ the  aggregator allows users to find and order any prescription drug or medical product — anything you can buy at an ordinary pharmacy — at the best …

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Target Global supports fast-growing European travel platform TravelPerk

April 16, 2018

Target Global, a Berlin-based international venture fund with Russian roots, led a $21 million series B round for Barcelona-based business travel platform TravelPerk. Another leading investor in the round was London-based Felix Capital. The news was announced last week by the startup . The round also involved existing investors, including Boston-based Spark Capital, European VC firms Sunstone …

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Russian e-commerce appeal: Ozon shareholders to inject up to $92 million in the company

March 7, 2018

Ozon Holdings, one of the most established Russian e-commerce companies, — sometimes dubbed, with some exaggeration, ‘the Russian Amazon,’ — will receive 3.5 billion rubles and possibly up to 5.25 billion ($61 million and up to $92 million at the current exchange rate) from its existing shareholders. The better part of the capital injection will …

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Russia’s top travel sites include both foreign and domestic sites

October 4, 2018

The Russian online market is hotter than ever with over 50% of surveyed shoppers indicating they book more travel online than offline, according to recent studies. Historically, travel agents have been very popular for booking travel in Russia but the market has seen a major shift thanks to a number of new online options for booking travel in …

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VEB Innovations to invest $3.5 million in Russian retail systems developer

January 24, 2018

VEB Innovations, the venture arm of Vnesheconombank supporting innovative projects, is planning to invest up to 200 million rubles  ($3.5 million at the current exchange rate) in Compo, a Russian developer and manufacturer of automated retail solutions. Compo is planning to use the financing to develop sales on the global market. Currently, the company is …

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Yandex.Taxi and Uber.EATS launch dedicated food delivery subsidiary

January 23, 2018

Yandex.Taxi — the taxi service of Yandex which is in the process of merging its activities with Uber in Russia and neighboring countries — intends to group the food deliver services under its control in a dedicated subsidiary, ‘Yandex.Eda.’ The new company will be part of the holding structure which will be formed as the result of …

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Russia suffers holiday retail nightmare as cash registers crash

December 21, 2017

Since this past July, Russian retailers have been required to use internet-connected registers which transmit sales data to the authorities to improve tax collection. But retailers were left counting the cost of a holiday-season glitch that may have caused billions of rubles in lost sales after the failure of some of these registers. “A retail nightmare came …

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Black Friday 2017: Key facts and numbers from a leading ad network

December 12, 2017

This year, Black Friday began on Thursday, November 23, with retailers launching their offers and special proposals at 4:00pm GMT. A number of e-merchants opened the clearance sales even earlier (some of them starting the operation on November 20) and continued these until December 1. admitad, a major international ad network, has reviewed its in-house …

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