The Russian cross-border sales market, which is expected to reach or exceed $3 billion this year, has been the object of two recent studies. The first report, conducted by the Higher School of Economics (HSE) this past summer, analyzes the effects of cross-border sales on the Russian retail market. The research was ordered by the …
Cross-border sales: Foreign e-merchants do not always have price advantage Read More
Synqera, a Russian startup operating internationally, has announced that it will test its personalization and data analytics technology with LAND, a premium supermarket with nine stores in St. Petersburg. This technology brings online shopping experiences to physical retail storefronts, leveraging data collection and analysis for real-time prediction of customer preferences and relevant product recommendations. LAND …
Russian startup Synqera brings online shopping experience to physical retail storefronts Read More
Competition in the saturated Russian online travel sector is fierce, and one of the main players last week took the dramatic step of a complete rebranding as it seeks to differentiate itself from its rivals. Skolkovo resident Oktogo, which was supposed to be read OK-to-go (a fact lost on many), has adopted the name Travel.ru, …
Oktogo.ru raises $5 million and switches to Travel.ru Read More
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
Odnoklassniki Russia’s second largest social network, has shut down its online marketplace “Magaziny” (‘Shops’ in Russian), reports the Russian tech blog Roem.ru. The marketplace had been launched just half a year ago. The service enabled big and small merchants to promote and sell their products easily in a dedicated section of the social network. Purchases …
Social network Odnoklassniki shuts down e-commerce marketplace Read More
When I moved to Russia, I was astonished by the pervasiveness of Internet piracy. Movies, music, software, books — everything was at my fingertips, free of charge and in the language of my choice. When my Russian friends learned that I pay for a Netflix account, they burst out laughing. Why, they asked, would I pay for something that is available for free? During my time in Russia, …
eTraction, the B2B e-commerce service division of the Otto Group launched earlier this year, has supported the e-commerce launch of the brands of Melon Fashion Group, a sizeable player in the fashion retail industry with over 550 outlets in Russia and neighboring countries. The three brands of the group – Befree, Zarina, and Love Republic …
Otto Group’s eTraction helps third-party fashion brands migrate online Read More
London/Moscow – RBK Money, a leading online payments provider in Russia, announced today that it has been granted the status of an Authorized Payment Institution by Financial Conduct Authority (FCA) in the UK. This enables RBK Money to offer its payment services across all the EU member states under the Payment Services Directive (PSD). This …
RBK Money gets payments services authorization in the UK, aims for EU expansion Read More
Nebo.ru (‘sky’ in Russian), the largest Russian online jewelry store to date, has attracted a $2 million investment from Moscow-based fund AddVenture. The transaction, which terms have not been disclosed, was negotiated in October but only made public in late November. Founded in 2008, Nebo.ru claims to be the largest online retailer in its segment. …
AddVenture invests in e-store Nebo.ru and food delivery startup Chefmarket.ru Read More
iTech Capital, a Russian PE & VC fund, announced earlier this week that it has invested $10 million in Ticketland, a major Russian event ticketing company. More than two million tickets for more than 40,000 events are marketed annually via Ticketland outlets and Internet platforms, according to the company. The Russian market of sport and …
The Russian calendar is consistent in its delay versus the American one, even for e-commerce bonanzas, with the local version of Black Friday taking place this Friday. Online consumers in the US, who were expected to spend more than $680 million in one day, flexed their muscles during the event on Nov. 29, with retailers there saying Russia was in many cases the No. 1 foreign …
In the rapidly developing Russian e-commerce market, Crossss.ru, a young company headed by Daniil Khanin, is offering stores a technology designed to significantly increase conversion rates in this field – “by 10 percent and more” – via personalized merchandising. “We have a mathematical algorithm that studies the visitor, and then makes an assumption whether the user …
Russian startup aims to increase e-merchants’ conversion rates “by 10% and more” Read More
