Finance

Avito.ru secures $75 million from Accel Partners and Baring Vostok

Avito.ru, Russia’s leading classifieds site by brand awareness and number of users, announced today that it has received $75 million in new funding from Baring Vostok Private Equity Fund IV and Accel Partners as well as from existing investors Kinnevik and Northzone. The valuation has not been disclosed, but Avito’s press service told East-West Digital …

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Report: M&A in the Russian communications and media sector in 2011 and early 2012

2011 was a rather disappointing year for M&A both globally and in Russia. Compared to the 6% decline in the value of global M&A deals, Russia’s M&A market experienced an even stronger reduction in value, by almost 28%. This is a sign of its continuing higher volatility, but also the result of fewer mega deals …

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VimpelCom calls off 3-year Vietnam safari

Vimpelcom, a leading Russian mobile operator with a broad international presence, announced last week that it would sell its 49% stake in Vietnam’s GTel Mobile, a JV it had set up in mid-2009 with local Global Telecommunications Corporation. Under the terms of the $45 million deal, the Russian telco is relinquishing operational control of GTel …

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Why European business angels come to Russia’s regions

I recall discussing last month some innovation rankings and a number of top-ranked regions of Russia highlighted by RBC daily and its Russian official partners. Siberia was worth praising; it had shown such a terrific innovation spurt. Such national rankings are useful and interesting. But there are also other indicators for an innovation economy, and …

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Java application cloud-based hosting platform Jelastic completes $2 million round

Earlier this week, the Ukrainian-Russian-American startup Jelastic, which offers a cloud-based hosting platform for Java application developers, announced it has secured an investment of $2 million from Almaz Capital Partners and Foresight Ventures. This ‘Series A’ funding round brings the startup’s total financing to $2.5 million. In December 2010, Jelastic received seed funding from Runa …

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Final audited IFRS results for FY 2011 and preliminary revenue update for Q1 2012

Dubai – Mail.Ru Group Limited (LSE: MAIL, hereinafter referred as “the Company” or “the Group”), one of the largest Internet companies in the high-growth Russian-speaking Internet market, today releases its annual report for 2011 and provides the following final audited segment financial information for the year ended 31 December 2011 and an update on the …

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Fast Lane Ventures secures $18 million in a round led by VTB Capital

VTB Capital, the venture investment arm of leading Russian state-controlled financial group VTB Group, has led a $18 million investment round in Fast Lane Ventures, a Western style Internet investment company operating in Russia. Investors from Fast Lane’s two previous rounds are also participating in the operation. They include eVenture Capital Partners and “some business …

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Evernote secures $100 million investment at $1 billion valuation

Evernote, a California-headquatered company founded by a Russian-American team in 2007, has completed a $100 million round at a $1 billion valuation, Business Insider reported last Thursday from “multiple sources.” The round was led by Meritech Capital Partners.

Megafon ownership shaken up, IPO planned for H2 2012

Megafon, Russia’s second largest mobile operator, has borrowed $4.5 billion with the intention of buying back investor Mikhail Fridman’s 25.1% stake, Reuters reported last week. If successful, the purchase will bring MegaFon closer to a $4 billion IPO on the London Stock Exchange. Megafon borrowed $1.5 billion from Sberbank, the Russian national savings bank, $1 …

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Scartel to focus on Russia, attempts to sell Belorussian subsidiary

RBC Daily reported earlier this week that Scartel, the leading Russian WiMAX operator operating under the Yota brand, is considering selling its Belorussian subsidiary, Yota Bel, just a few months after starting operations in this country of almost 10 million inhabitants. Such a move would confirm Scartel’s intention to focus more on Russia  rather than …

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Milner takes part in Path’s $30 million investment round

Yuri Milner, co-founder of the prominent Russian Internet fund DST, is among the investors in Path, the much-hyped ‘mobile-centric social network’ launched in 2010. The investment round, which amounts to at least $30 million, was led by venture firm Redpoint Ventures, CNet reported on Monday, with entrepreneurs Richard Branson, Mark Pincus and Jerry Murdock, as …

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Rusnano and Bright Capital invest in US next gen Wi-Fi chipset provider

Quantenna Communications, a leading player in ultra-reliable Wi-Fi video networking for whole-home entertainment, announced today that it has closed a $79 million funding round led by new lead investor Rusnano, the Russian nanotechnology giant, with participation by a second new investor, Bright Capital, a major Russian fund. All existing major investors, Sequoia Capital, DAG Ventures, …

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