Capital markets

Tinkoff Bank now valued at $4 billion, launches R&D center at Skolkovo

February 12, 2018

On February 9, Tinkoff Bank, the Russian digital lending giant, announced the launch of an R&D center at Skolkovo, the international tech hub under completion on the outskirts of Moscow. The new center will focus on Blockchain-based solutions and cryptoeconomics research in order to  boost the Tinkoff’s financial ecosystem. “The ideas and prototypes developed at …

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WSJ: “Nasdaq-listed Yandex is Russia’s Uber and Google combined”

February 1, 2018

“Stock investors can’t invest in Uber, but they can invest in Nasdaq-listed Yandex, owner of Russia’s top ride-hailing platform,” writes WSJ reporter Stephen Wilmot, referring to the Yandex.Taxi platform. The Russian search engine recently agreed with Uber to merge their respective taxi-hailing and food delivery services in Russia and neighboring countries – a move that has provided …

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Russian IT service company IBS considers IPO in 2018

December 21, 2017

Russian IT service provider IBS is considering holding an initial public offering in 2018, two financial market sources and a source familiar with the company’s plans told Reuters this Wednesday. The company has yet to decide on the size of the offering and hire banks to handle the deal, the sources said. IBS declined to comment on specific plans; …

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Russian team prepares $100 million ICO to challenge China in bitcoin mining

November 24, 2017

As Russia is being hit by the ICO (initial coin offering) fever, a company co-owned by Dmitry Marinichev, the presidential Internet commissioner, plans to raise as much as $100 million in cryptocurrencies. Russian Miner Coin (RMC) aims to help Russian entrepreneurs challenge China in Bitcoin mining, reports Bloomberg. The tokens issued will have rights to 18% of the revenue …

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Usmanov sells off entire Alibaba stake, retains small stake in Apple

January 10, 2017

USM Holdings, which is controlled by Alisher Usmanov and his business partners, has entirely divested its stake in Chinese Alibaba. DST Global, a fund controlled by Usmanov and Yury Milner, Silver Lake and Chinese fund Yunfeng Capital led a consortium that invested $1.6 billion in Alibaba in 2011. The deal was structure as an acquisition …

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Major Russian IT firms prepare to go public

December 29, 2016

Industry association Russoft and the Moscow Exchange have created a joint working group to help Russian software companies get ready for IPOs, Rambler News Service (RNS) reported last week based on exchanges with industry representatives. Nearly 10 Russian software developers are preparing to go public. Among them are I.T. Group, which intends to sell its software assets on the stock exchange …

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After South Africa, Russia’s Central Depository partners with China over blockchain

August 31, 2017

A memorandum of understanding signed yesterday sees Russia’s National Settlement Depository (NSD) and the China Securities Depository and Clearing Corporation Limited (CDSC) – both their respective countries’ central securities depositories – partner to develop blockchain applications in the post-trade space. The partnership was announced yesterday by the NSD, which has also engaged in a similar endeavor to develop blockchain solutions …

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Ozon not profitable yet, but expects fast growth and still considers Western IPO 

September 4, 2016

Ozon.ru, one of the most established Russian online retailers, — sometimes dubbed, with some exaggeration, ‘the Russian Amazon,’ — saw its sales grow by 20% year-on-year in the first seven months of 2016. The figure was disclosed by Danny Perekalsky, the site’s CEO, in exchanges with Rambler News Service (RNS) and East-West Digital News. “We’re satisfied with …

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SEC suspends ‘tech miracle’ from Siberia after stock value soared to $35 billion

November 18, 2024

Yesterday the Securities and Exchange Commission suspended trading in the securities of Neuromama (NERO), a tiny Internet company with Russian roots, “because of concerns regarding the accuracy and adequacy of information in the marketplace.” Based on the latest transactions on over-the-counter markets in the USA, the company’s capitalization exceeds $35 billion — more than Tesla or Gazprom. Neuromama’s stock …

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Ulmart sees sales slow down amid the crisis but confirms western IPO plans

August 30, 2016

Ulmart, a leading Russian e-commerce player, saw its revenues almost stagnate last year, with sales reaching just 62.7 billion rubles, up from approximately 60 billion rubles in 2014, including VAT ($1 billion and $1.3 billion, respectively). The company showed a “slightly positive” EBITDA, Ulmart’s chairman and key shareholder Dmitry Kostygin told Kommersant, a leading business daily, earlier this week. In an email …

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TRData wants to be ‘Bloomberg for emerging markets’

December 16, 2015

TRData, a London-headquartered startup with a development team based in Ukraine and the majority of customers in Russia, makes for an interesting European tech story. The company, which has recently gone through 500 Startups’ London ‘Distro Dojo’ growth hacking program, is building something akin to a “Bloomberg for emerging markets”. It offers traders access to real-time …

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Avito acquires delivery service aggregator CheckOut and prepares for IPO

February 12, 2016

Avito, Russia’s leading online classifieds site, is preparing for an IPO, co-founder and CEO Jonas Nordlander stated last week. Avito is “in the preparation for the simple reason that we want to have options if it at some point makes sense for the business and shareholders to go public,” Bloomberg quoted him as saying. Avito …

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