E-Commerce

MallStreet.ru funded by Kima Ventures, Amber Venture Partners and Fabrice Grinda

April 16, 2012

Mallstreet.ru, a Russian online retailer founded in 2009, secured an undisclosed  investment from West European early-stage venture funds. The operation took place in the summer of last year, but was disclosed by industry blogger Yakov Sadchikov only last week. Among the investors are Kima Ventures, founded by prominent French tech entrepreneurs Jérémie Berrebi and Xavier Niel, …

MallStreet.ru funded by Kima Ventures, Amber Venture Partners and Fabrice Grinda Read More

German inspired Lokata.ru helps Russian consumers search online and buy offline

April 13, 2012

Fast Lane Ventures has partnered with Bonial International Group, a German company specializing in location-based shopping information services, to launch Lokata.ru, one of the first services of this kind in Russia. Lokata is an online and mobile service providing shoppers with the information needed to make smart shopping decisions prior to them even entering the …

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Biglion buys major Belorussian daily deal site

April 11, 2012

Just two months after it began serving Kazakhstan, Biglion, the leading Russian daily deal site, has acquired Bongo.by, a Belorussian analog. The transaction was announced yesterday by Biglion’s Development Director Oleg Savtsov in an exchange with Russian business daily Kommersant. Savtsov did not disclose the amount of the deal, but Kommersant reported that Bongo.by is …

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Daily deal site Kupikupon.ru aquires beauty salon booking service

April 10, 2012

Kupikupon.ru, a major daily deal site, has acquired Moresalonov.ru, an online booking service for beauty salons, for an undisclosed amount, reported Unova, a Russian site dedicated to high tech and venture news. The clients of Kupikupon.ru will be able to plan visits to beauty salons and book appointments  more easily. Bookings for restaurants, car maintenance, and …

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Cross-border e-commerce operator BayRu opens Moscow office

April 5, 2012

Illustrating the importance of online cross-border commerce in Russia, the Chicago-based company BayRu, which helps consumers from Russian and neighboring countries place orders from foreign online retailers, announced last week that it has opened a representative office in Moscow. Many Russians make online purchases from international giants eBay and Amazon or from more specialized retailers …

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Ozon 2011 revenue exceeds $300 million

April 5, 2012

The Ozon group yesterday announced revenue growth of 84% for last year in dollar value, reaching $302.5 million and outperforming the Russian online retail market’s estimated 25% rise to some $10 billion. Particularly notable was the 3.5-fold growth of Ozon Travel, the branch specializing in air and train tickets and hotel bookings. Established in 2009, …

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Report: Russian e-commerce severely hampered by HR shortages

April 2, 2012

The lack of qualified human resources appears to be the most difficult issue faced by the fast growing e-commerce industry in Russia, says a report by East-West Digital News. All key positions are affected, from general managers and project managers, to e-marketing specialists to IT and fulfillment teams. The shortage of skilled employees on the …

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PayPal in talks with Russian Post

March 30, 2012

PayPal has held discussions with the Russian Post to prepare its entry on the local market, Russian business daily Kommersant reported earlier this week. Beyond the launch of the international virtual currency on the Russian market, a co-branded payment card has been discussed, which could be replenished from PayPal accounts and used to settle purchases, to withdraw cash …

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Leonid Gluzman of Zina.ru: “Up to 80% of first time online purchases are made on couponing websites”

March 26, 2012

Two years after the Groupon fever hit Russia in March 2010, Leonid Gluzman, the founder of daily deal site aggregator Zina.ru, recalls the history of this thriving industry and shares its key figures and trends for the future. This interview is an excerpt from an in-depth research paper on Russian e-commerce that will be released next …

Leonid Gluzman of Zina.ru: “Up to 80% of first time online purchases are made on couponing websites” Read More

Bravofly claims first successes in Russia “beyond expectations”

March 23, 2012

Taking advantage of the growing demand for online travel services, Bravofly, the European online travel agency that specializes in selling low cost flights, seems to have succeeded in its entry on the Russian market. Already operating in a dozen Western countries, from Italy to Germany to the United States, the agregator of low cost air ticket …

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Western funds Mangrove and Ventech take part in Oktogo.ru’s $10 million round

March 21, 2012

Oktogo.ru, a leading Russian online hotel booking and travel company, officially confirmed yesterday that it has secured a $10 million round of financing. The news was leaked for the first time last month, but Oktogo’s press release has provided details on the operation. VTB Capital, the investment arm of the Russian state controlled financial group VTB …

Western funds Mangrove and Ventech take part in Oktogo.ru’s $10 million round Read More

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