Finance

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

KupiVip.ru shareholders to invest $50 million in new online fashion retailer

March 20, 2012

The shareholders of KupiVip.ru, Russia’s leading fashion flash sales site, intend to invest no less than $50 million in Shoptime.ru, an online fashion items and accessories retailer that launched in test mode earlier this year. In contrast to the discounted flash sales model used by KupiVip.ru, this new site offers a permanent assortment of new …

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Tiger Global leads $30 million round for online marketplace Wikimart.ru

March 19, 2012

The Russian online marketplace Wikimart.ru has secured a $30 million round of financing – the third one since the startup’s inception in 2008 – with Tiger Global Management contributing $18 million and the remaining $12 million coming from an undiclosed Russian investor. The startup’s previous valuation amounted to $50 million, which corresponds to its estimated …

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Mobile operator MTS could sell part of its online video business

March 15, 2012

The Russian mobile operator MTS is considering selling a stake of its online paid video site Omlet.ru, the operator’s VP of Marketing Vasily Latsanich announced earlier this week at a press conference. “A content business should be separated from a mobile operator’s business, and we are not the only ones on the market to believe so,” …

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Mine fleet management solution provider Vist Group eyes IPO

March 13, 2012

Vist Group, a major, twenty-year-old Russian developer of turn-key IT solutions for mine fleet and railroad management systems, is considering seeking capital market opportunities, according to Reuters. A resident of Skolkovo, the government-sponsored technology hub outside Moscow, Vist could thus become the first Skolkovo resident to orchestrate an IPO. Vist has declined to make any …

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US venture capitalists go East: Russia’s startups now more appealing

March 10, 2012

Is Russia becoming a new frontier for US venture capitalists? With local startups and incubators springing up like mushrooms, a number of foreign tech investors have started to operate in the country, which is striving for modernization. Exemplifying the invest in Russia trend is Tiger Global Management, a New York-based international investment management firm. Over …

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US business angel Esther Dyson: “Online services can reduce the costs of being honest”

March 9, 2012

Among US business angels, Esther Dyson is probably the one who has invested the most to date in Russia. Her portfolio includes no fewer than 15 Russian startups as well as Yandex, the search giant which she advises as a member of its board of directors. In this exchange with East-West Digital News, Esther Dyson …

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Russia’s government innovators and stock exchange consider open playground for start-up stocks

March 8, 2012

Two deep-pocket, state-owned innovation flagships, the Russian Venture Company (RVC) and Rusnano, and the MICEX-RTS stock exchange have shaken hands on an uncommonly broad-based, private/public partnership designed to aid Russia’s fledgling technology innovators. In a concerted not-for-profit effort called Innovation and Investment Market (IIM), also known as IPO Board, the players are stepping forward to …

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Rostelecom consolidates ownership of cable operator NTK

March 7, 2012

Last week, Rostelecom, the Russian national telecom operator, announced two acquisitions almost simultaneously, reflecting its ambitions to integrate a variety of networks and services across Russia and assert itself as a universal operator. The company announced it consolidated its ownership of NTK, a leading cable operator, of which it had already bought a 71.8% stake …

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Israeli startup TimeBooker receives funding from Yandex

March 6, 2012

Last week, Yandex announced it will provide seed funding to TimeBooker, an Israeli startup which intends to serve small and mid-sized service companies with an innovative booking solution. The seed funding, which industry blogger Yakov Sadchikov thinks is “in the range between $50,000 and $100,000,” will be brought under the Yandex.Factory program.

Russian telecom tower operator secures $100 million investment

March 5, 2012

Russian Towers, a Russian company that owns, operates, and leases telecommunication towers, secured a $100 million investment last week from a consortium of investors led by the Macquarie-Renaissance Infrastructure Fund (MRIF), which committed itself to invest half of the total. Another $20 million is coming from emerging market investor ADM Capital, while founding  shareholders UFG …

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