Finance

Square-like startup Life-Pay raises $2.6 million from Life.Sreda

December 11, 2012

Life-Pay, a startup that is developing smartphone-based bank card payment terminals, has secured $2.6 million from Life.Sreda at an undisclosed valuation. The news was reported yesterday by Unova.ru, a website covering startup and venture news. The funds will be used to reinforce the startup’s team, develop new products and penetrate new markets in the former …

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How to invest in Russian startups: An investor’s guide

December 10, 2012

This article is published in partnership with Russia Beyond The Headlines, an international source of political, business and cultural news and analysis. As a new generation of startup entrepreneurs is emerging in Russia, the local startup scene tends to look more and more like its American, European and Asian counterparts. The stereotype of innovative Russian boffins …

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Megafon acquires 50% stake in mobile retailer Euroset, eyes mobile operator Tele2

December 10, 2012

Megafon, a major Russian mobile operator controlled by Russian billionaire Alisher Usmanov, has acquired a 50% stake in Euroset, Russia’s first mobile phone retailer, from Alexander Mamut, a prominent Russian businessman. Vimpelcom, another leading mobile operator, has increased its stake in Euroset from 49.9% to 50%. The deal has valued the company at $2.3 billion, …

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Mail.ru Group considers selling its stake in Vkontakte

December 6, 2012

Mail.ru Group, an LSE-listed Russian Internet group partly owned by Russian billionnaire Alsiher Usmanov, may consider selling its 40% stake in VKontakte (VK.com), Russia’s most popular social network. This possibility was discussed earlier this week by Ivan Streshinskiy, chief executive officer of the company that manages Usmanov’s assets, USM Advisors LLC, in an interview with …

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DST backer Alisher Usmanov to focus on China

December 6, 2012

Alisher Usmanov, the Russian billionaire who backs the leading global Internet investment fund DST Global, is now avoiding the US and focusing on China, Bloomberg reported yesterday. The valuations of US technology companies are too high to justify making new investments, Ivan Streshinskiy, chief executive officer of the company that manages Usmanov’s assets, was quoted …

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Yuri Milner takes part in Prismatic’s $15 million Series A funding

December 6, 2012

Yuri Milner, co-founder of the prominent Russian Internet fund DST Global, is among the investors in Prismatic, a San-Francisco based startup that attacks the difficult task of creating personalized news feeds based on users’ interests. Also participating in the Series A funding, which amounts to $15 million, are Jim Breyer and his fund Accel Partners, …

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Far East and Baikal Regional Development Fund to be bumped up by 200 times

December 5, 2012

The Far East and Baikal Regional Development Fund, which was set up a year ago, may be increased considerably, the innovation news portal Venture-News.ru reported last week. Currently, its authorized capital is $15.5 million; but it may soon be boosted to as much as $3 billion or more. The idea came from Russian President Vladimir …

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German auction site secures $2.5 million from Russia’s Bright Capital

December 3, 2012

Bright Capital Digital has injected $2.5 million into Auctionata, a German online auction site specializing in antiquarian items. The news was reported by Russian business daily Kommersant, based on an exchange last week with Bright Capital Investment Director Vadim Tarasov. Established in 2011, Auctionata claims to feature “the first live auction in the history of …

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Evernote raises $85 million with “no exit strategy”

December 1, 2012

Evernote, a California-headquatered company founded by a Russian-American team in 2007, has just completed a $85 million round, CEO Phil Libin announced on his blog yesterday. The round was led by London-based AGC Equity Partners/m8 Capital with participation from Valiant Capital Partners and existing investors. Seventy five percent of this money comes in the form of …

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Megafon raises $1.7 billion on London and Moscow stock exchanges amid mixed growth perspectives

November 30, 2012

This week, Megafon raised $1.7 billion by trading approximately 15% of its shares on the London and Moscow stock exchanges simultaneously. Although the order book for the IPO was oversubscribed, the Russian telecom operator priced each share at $20, at the bottom of the $20-$25 range, placing the company’s total valuation at $11.1 billion. Putting …

Megafon raises $1.7 billion on London and Moscow stock exchanges amid mixed growth perspectives Read More

Eighteen Russian and Western business angels invest $700,000 in innovative online printing technology

November 28, 2012

Printio.ru, a Moscow-based startup offering personalized printing services, has just raised $700,000 from a total of 18 Russian and Western business angels. The terms of the deal have not been disclosed, but Printio’s co-founder Aleksandr Shamis told East-West Digital News that the founders got a “good valuation” and have kept a controlling stake. Launched officially …

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Tricolor affirms leadership on pay TV market, attempts to attract investment from VTB

November 26, 2012

Tricolor TV, Russia’s leading pay TV operator with 8.5 million paid subscribers, claims half a million HDTV subscribers, with optimistic plans to reach 3.9 million subscribers by next year and 7 million by 2015, the Russian tech news portal Digit.ru reported last week. Aiming to become the leading European HD provider, in March of 2012 …

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