Finance

Buran invests in Russia’s nascent online ticketing market

November 19, 2014

Last week, Ponominalu.ru, a Moscow-based online provider of show tickets, announced the completion of its first round of financing, securing $1.5 million from Buran Venture Capital at an undisclosed valuation. Ponominalu.ru is expected to use the investment capital to beef up its team, explore further regional opportunities, and offer the events ticket market in Russia its …

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SXSW: Yuri Milner predicts rosy future for social networks

March 15, 2013

There are not too many Russians who participated in the annual South by Southwest festival in Austin, Texas, this year, but this one is hard to miss. Yuri Milner, a Facebook investor and the founder of DST Global investment fund, was interviewed by Vanity Fair contributing editor Bethany McLean. During the interview, Milner predicted that …

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Smart bank card provider IQcard raises $2.5 million from Russian and Ukrainian funds

March 13, 2013

IQcard, a Moscow-based startup offering multifunction bank cards, has raised “more than $2.5 million” in a Series A round from Paradigm Investments and TA Venture, as well as from existing investors Fastlane Ventures and Direct Group. Neither the exact amount of investment nor the startup’s valuation were disclosed. Launched in March 2012, IQcard offers a prepaid bank …

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Russian teenager starts investment social network

March 13, 2013

Seventeen-year-old Kirill Chekanov has created a start-up which he called “Twitter for investors.” The project, which is still beta testing and seeking both new investors and a customer base, is competing in a narrow niche. Chekanov claims Hippflow steps up investor communications, while critics say it allows investors to publically transmit what they prefer to exchange …

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Avito.ru, Slando.ru and OLX.ru merge to create online classifieds giant

March 12, 2013

Avito.ru, Russia’s leading classifieds site by number of users, is merging with its competitors Slando.ru and OLX.ru, creating the fifth most popular Russian website, with more than 100 million page views a day, The Financial Times reported this morning. As part of the deal, Slando and OLX will be folded into the Avito brand. The …

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Undeterred by debt, VimpelCom eyes “interesting opportunity” in Canada

November 19, 2014

VimpelCom, a leading Russian mobile operator, is considering a North American expansion amid negative market sentiments over the company’s already weighty debt level. VimpelCom CEO Jo Lunder told Bloomberg earlier this year that his company “has an interesting opportunity in Canada” and may consider organic growth or acquisitions there. He declined to elaborate, however, leaving …

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Russia’s Bright Capital leads investment round in German wine online retailer

March 12, 2013

The invest abroad trend among Russian financial institutions was demonstrated again last week by a capital injection of “several million euros” in Wine in Black, a German premium wine online retailer. The round was led by Russia’s Bright Capital Digital with existing investors – e.ventures (Hamburg), Passion Capital (London) and Project A (Berlin) – also participating “significantly.” Wine …

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LSE-listed Russian tech fund raises $1.1 million; shares up 40% in 12 months

March 11, 2013

TMT Investments, a London-headquartered venture fund backed by Russian businessmen, announced last week that it has raised $1.125 million from an unnamed “group of qualified investors.” Launched by German Kaplun, Alexander Morgulchik and Artyom Inyutin, the founders of the large Russian media holding RBC back in the 1990s, TMT was introduced on the Alternative Investment …

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Moscow Seed Fund and angel investor Igor Ryabenkiy back contextual ad solution provider

March 11, 2013

Last week the Moscow Seed Fund, Moscow City’s venture investment arm, announced an investment of an undisclosed amount in Alytics, a startup developing contextual ad solutions “to optimize conversion rates and save on advertising budgets.” Igor Ryabenkiy, one of the twelve partnering investors that the municipal fund picked up last year, also took part in the …

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Comparing apples and oranges: Forbes ranks Russia’s “Top 30 Internet companies”

March 8, 2013

In an attempt to shed some light on Russia’s Internet industry, the Russian edition of Forbes magazine released last week the 2013 edition of its “Top 30 Internet companies” ranking. The ranking is based on estimates of each company’s annual revenue. From a methodological standpoint, however, it leaves much to be desired. Not only is …

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St. Petersburg regional fund supports innovative payment solution developer

March 7, 2013

A state-supported venture fund in St. Petersburg (“The St. Petersburg regional venture fund for investment in small businesses in the scientific and technical sphere,” in Russian officialese) has announced an investment of an undisclosed amount in Breeze Technology, a startup developing innovative payment methods for public transportation. Breeze Technology has provided St. Petersburg and Moscow …

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