E-Commerce

E-commerce analytics platform Metacommerce secures nearly $1 million from IIDF

December 26, 2018

Last month the Internet Initiatives Development Fund (IIDF, or FRII in Russian) invested 60 million rubles ($950,000 at the current exchange rate) in Metacommerce,  a Moscow-based startup which has developed an e-commerce analytics platform. FRII was the sole investor in this round, but the startup had previously secured mentoring and financial support from Igor Ashmanov, a prominent …

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Italian luxury brand Furla launches online sales in Russia

October 17, 2016

Illustrating the continued traction of the Russian e-commerce market, Italian brand Furla launched last month an online sales channel for its Russian customers. Furla’s move comes after recent similar initiatives from other western companies such as Vans, H&M and L’Oréal Group. The Russian version of the online boutique offers a variety of luxury bags, wallets, glasses, watches, and other accessories for …

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Chronopay General Director Jeroen Smit: “The move ‘from brick to click’ has started to pick up pace in Russia and is developing fast”

October 16, 2016

Founded in 2003, ChronoPay was one of the first to enter the online payment market in Russia. In this exclusive interview, the company’s general director Jeroen Smit shared his view on the Russian e-commerce market and its appeal to international e-commerce companies. He also commented on the consequences of the legal matters which involved Chronopay’s founder Pavel …

Chronopay General Director Jeroen Smit: “The move ‘from brick to click’ has started to pick up pace in Russia and is developing fast” Read More

Chinese cross-border conference and expo (Dec. 1-2 in Shanghai)

November 25, 2016

Over the past few years, the Cross-Border Ecommerce Conference & Exhibition has become the place to be for industry players and experts operating or interested in the Chinese cross-border e-commerce scene. The 6th edition of this yearly event will take place in Shanghai on December 1-2 to highlight the latest market trends and the new issues …

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Report: Russia’s online economy accounts for nearly 2.5% of GDP

October 13, 2016

The Russian online economy reached 1.94 trillion rubles (roughly $31 billion at the average exchange rate) in 2015, according to “The Runet Economy,” a study released last month by the Russian Association for Electronic Communications (RAEC). This amount is equal to 2.4% of Russia’s gross domestic product, slightly more (0.2 percentage points) than in 2014. Due …

Report: Russia’s online economy accounts for nearly 2.5% of GDP Read More

Russian online ticket service expands to Belarus and Lithuania

October 7, 2016

This summer, Russian online ticket service Kassir.ru acquired its two counterparts — Belarusian Kvitki.by and Lithuanian Bilietai.lt — from Lithuanian BLT group, Delovoy Peterburg reported last week. The transaction amounted to €5.5 million, according to the Russian newspaper. Based in Saint Petersburg, Kassir.ru is part of the PMI media holding, which is controlled by Russian billionaire Eugene Finkelstein. …

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Dubai-based home services startup MoveSouq.com raises $3 million from Russia’s AddVenture

October 6, 2016

Dubai-based online home services marketplace MoveSouq.com has managed to capture investor attention all the way from Russia. MoveSouq has closed a US$3 million Series A funding round led by AddVenture, a Russia-based global venture capital firm. This fundraising is the startup’s third round, after seed and angel rounds in 2013 and 2015. Founded by former consultants Bana Shomali and Wim …

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This week: Russian Affiliate Congress 2016

October 13, 2016

This Friday, October 7, Moscow will play host to the 5th edition of Russian Affiliate Congress 2016 (RACE), an internationally-oriented event dedicated to affiliate programs and marketing. Featured in the event will be the following topics: Quality market innovations of affiliate marketing; Efficient affiliate marketing tools; Lead generation: new routes and maps, best practice; Forex and Binary …

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Amazon Kindle scam, Russian style

October 2, 2016

Emma Moore could have been the health and weight loss guru you spent your life looking for. You might be forgiven for not knowing her work — after all, she has a common name, one that she shares with other similarly successful authors on Amazon. Until this week, she had dozens of health, dieting, cooking, and …

Amazon Kindle scam, Russian style Read More

iPhone 7 goes on sale in Russia

September 26, 2016

Sales of the long-awaited iPhone 7 and iPhone 7 Plus smartphones officially start in Russia today, Sept. 23. New Apple smartphones will be on sale in retail networks of Russian cellphone operators (MTS, Megafon and Vimpelcom) as well as networks of large Russian retailers of electronics and home appliances. Apple presented iPhone 7 smartphone in San …

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Russian media and telecom giants acquire stake in online marketplace in media-for-equity deal

September 22, 2016

Russian digital TV operator Tsifrovoe Televidenie (‘Digital Television’) has acquired a 25.1% stake in Greeder.ru, an online B2C marketplace launched recently, in a media-for-equity deal. The news was reported today in Russian business daily Kommersant  based on exchanges with top company executives. Greeder’s founder Sergey Bazylev has kept a 52.43% stake, while the remaining 22.47% stake …

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Lamoda.ru increases revenues, reduces losses in H1 2016

September 20, 2016

As the Russian e-commerce market keeps growing in spite of the economic crisis, Lamoda.ru, a major online fashion retailer operating in Russia Ukraine and Kazakhstan, saw its net revenues grow to €125.6 million in the first half of this year — up 41.1% on a constant currency basis (or 15.4% in euros) from H1 2015. These figures were disclosed in …

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