E-Commerce

Ozon to acquire Oney Bank to enhance financial service offerings

April 15, 2021

Ozon, a NASDAQ-listed Russian e-commerce major, announced today an agreement with Sovcombank to acquire Oney Bank. This cash transaction is still subject to regulatory approval; its exact amount , which should “not exceed $10 million,” will be determined at closing, Through this deal, Ozon is acquiring the licenses required to develop its offering of financial services around its marketplace. …

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Sber acquires InSales to help Russian SMEs sell online

April 13, 2021

Sber (previously know as Sberbank) is demonstrating once again its ambitions in the field of e-commerce with the acquisition of SaaS provider InSales, which was announced yesterday. The state-controlled financial and digital giant has agreed to acquire an 80% stake in InSales for an undisclosed amount. The rest of the shares will remain in the hands …

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Russian unmanned retail startup raises millions every few months, targets EU, UK and US markets

April 12, 2021

In late March Moscow startup Briskly raised $3 million from Maxim Poletaev and Gauss Ventures alongside two unnamed new investors. Poletaev, a former Sber executive, and Gauss, a Cayman-based fund with Russian connections, backed Briskly from the very beginning, with a $370,000 injection in 2019.  The deal came just five months after a previous $2 million round — and is preceding a new …

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AliExpress Russia invests in regional marketplace KazanExpress

February 7, 2022

AliExpress Russia, a leading cross-border and domestic e-commerce platform in Russia, has invested in a major regional e-commerce company, KazanExpress, acquiring a 30% stake. The amount of the transaction was not disclosed but, in an exchange with Kommersant, KazanExpress co-owner Linar Khusnullin refered to an amount of “several billions of rubles” (dozens of millions of …

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Mail.Ru and AliExpress pursue e-commerce integration through multi-platform merchant interface

March 15, 2021

Earlier this month Mail.ru Group and AliExpress Russia achieved yet another step in their e-commerce integration plans with the launch of Multimarket. This single interface allows merchants to manage their sales simultaneously via the AliExpress Russia site and Mail.Ru’s properties — including social networks VK and Odnoklassniki, and classifieds platform Youla. Registered merchants can place …

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Russian e-commerce leader Wildberries launches in France, Italy and Spain

March 10, 2021

In late February Wildberries, the number one Russian e-commerce company, launched in three new EU countries: France, Italy and Spain — just weeks after its debut on German soil.   Through localized web and mobile interfaces (France, Italy, Spain), online shoppers from these three countries can access more than four million products from some 40,000 brands — from …

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Russian tech giants go into fintech

March 8, 2021

Russian tech giants Yandex, Mail.ru Group, Ozon and Wildberries are developing their own fintech services in an expansion that could put them in stiff competition with the country’s leading banking institutions, Forbes Russia reports. NASDAQ-listed Yandex provides services ranging from music streaming to express grocery delivery. After failing to implement joint projects with Sber and Tinkoff last …

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Two months after its $1.2 billion IPO, Ozon prepares to issue $750 million worth of convertible bonds

February 19, 2021

Russian e-commerce major Ozon is to offer bonds worth $750 million (aggregate principal amount). These bonds will be issued “on or around Feb. 24, 2021,” with further listing on “an internationally recognized, regularly operating stock exchange.”  The company provided the following details on the offer: These are senior unsecured convertible bonds, which will be convertible into American Depositary …

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Fashion and e-commerce leaders discuss market, tech and sustainability at Moscow event (March 2)

March 10, 2021

The 4th edition of Fashion Tech Day, Russia’s leading conference on fashion retail tech and e-commerce, will be held in an offline and offline format in Moscow Expocenter. More than 2,000 participants are expected, including hundreds attending the physical event. Co-organized by East-West Digital News, the event will involve a variety of fashion brands, retailers …

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Local merchants now generate 25% of AliExpress Russia’s business

February 17, 2021

AliExpress Russia has just disclosed a series of interesting activity indicators — from audience, to sourcing, to logistics — confirming its leadership on the cross-border e-commerce segment and a growing traction on the domestic segment.  By the end of 2020, the platform’s monthly audience reached some 29.1 million users (8.8 million daily). The platform does particularly …

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Russian WiFi marketing startup makes first steps in US market

February 16, 2021

Moscow-based IT company Hot-WiFi has announced its entry on the US market. The Russian startup offers businesses a guest WiFi hotspot network with marketing functions and data analytics services. This approach may increase the turnover of a coffee shop, for example, by 10% as shown by a business case in Moscow. Founded in 2012, Hot-WiFi has …

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E-commerce provider secures $1.3 million from Russian business angel

February 5, 2021

As Russian e-commerce, boosted by the pandemic, is breaking records, service and solution provider PIM Solutions has just received a capital injection of 100 million rubles ($1.3 million at today’s exchange rate) from business angel Dmitry Zobnin. The valuation of the company has reached 2 billion rubles (around $26 million), as Zobnin received a 5.13% …

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