Finance

Ozon files for NASDAQ IPO, aims to raise $500 million

Ozon, Russia’s leading multi-category e-commerce company, announced yesterday it has filed for an initial public offering (IPO) in the United States (see prospectus), one month after starting the registration procedure. The company intends to list its American depositary shares (ADS) on the NASDAQ. No pricing terms were disclosed, but Reuters reported that Ozon “could raise at least …

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Mail.ru Group sells mapping and navigation service Maps.me as “non-core asset”

Mail.ru Group, the LSE-listed Russian Internet giant, has just announced the completion of the sale MAPS.ME to Daegu Limited, a part of Parity.com Group. All company shares have been transferred for 1.56 billion (some $20 million at today’s exchange rate).  Mail.Ru presents the move as part of its “strategy to focus on development of core assets where …

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Sber completes full acquisition of online media and entertainment group Rambler

Sber, Russia’s state-controlled financial and technology giant (previously known as Sberbank), has brought its stake in Rambler to 100%, buying the 45% stake of billionaire Alexander Mamut.  These shares will be paid for in tranches, stated Sber. The first one, worth 3 billion rubles (nearly $38 million at the current exchange rate) will be settled immediately, while …

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Sber teams up with pharma major to acquire leading online pharmacy

Sber, the state-controlled financial and tech giant – previously known as Sberbank, – and Russian pharma major R-Pharm, are teaming up to acquire the online pharmacy Eapteka. According to the agreement, each partner will get a 45% stake with 10% being retained by company founder Anton Buzdalin. The amount and details of the transaction, which is still subject …

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Russian home cinema startup secures $5 million factoring loan to pursue international development

Russian home cinema startup Multibutik — also known as Cinemood — has secured a $5 million loan from factoring company GameBoost42.  Now headquartered in San Francisco, this startup is one of Russia’s most hyped international startup success stories. It has developed mini cinema projectors for children, including a cloud-connected one that can project content onto any surface.  Cinemood …

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Baring Vostok and Goldman Sachs acquire stake in major Russian financial and insurance portal

Russian billionaire Oleg Tinkov has sold his stake Sravni.ru, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs, reports VC.RU. The terms of the transaction were not disclosed. Sravni.ru defines its mission as “to help people make the right choices and achieve financial goals.” Its users are assisted in choosing financial …

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Quarterly review: Battle of digital titans in Russia, Belarusian IT exodus, acquisitions in Ukraine

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and neighboring countries in Eastern Europe. Since last year, EWDN chief editor Adrien Henni has offered a regular column to highlight the most notable industry facts and trends as well as promising tech innovations from these countries. Covering the third quarter of …

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Tinkoff scraps $5.5 billion deal with Yandex, shares plunge

The proposed megamerger between Russia’s leading technology company Yandex and fast-growing challenger bank Tinkoff has been scrapped. In an announcement to the London Stock Exchange — where Tinkoff’s holding company TCS is listed — the bank said negotiations between the two sides had been “terminated, effective immediately.” Yandex and Tinkoff previously announced they had reached an “agreement …

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Mail.Ru buying spree: New investments in gaming and edtech

This week several new investments by Mail.ru Group, the LSE-listed Russian Internet giant, were reported. In the field of online education: Lomigor, a Cypriot subsidiary of the LSE-listed Russian Internet giant, purchased a 45% stake in Preprep.ru LLC, the startup behind exam preparation platform Tetrika. The transaction, which took place in September, was just revealed …

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Yandex, MTS, etc.: Oleg Tinkov reportedly holding parallel talks to sell his online bank

The sale of Tinkoff Bank to Yandex is far from certain, Russian online publication The Bell wrote yesterday, just three weeks after the two companies announced an “agreement in principle” on a $5.5 billion merger. Oleg Tinkov, the owner of the online bank, is also considering other buyers — in particular mobile operator MTS, or …

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Russian retail self-service and payment startup raises $2 million to expand across Eastern Europe

Moscow startup Briskly has raised $2 million to finance its first international projects and strengthen its positions in Russia. Sberbank executive Maxim Poletaev and Gauss Ventures, a Cayman-based fund with Russian connections, are among the investors alongside an unnamed British venture fund and another private investor. Poletaev and Gauss Ventures already put $370,000 in the …

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Smart city solution developer to receive up to $3.4 million from major corporate funds

Alphaopen, a Moscow-based developer of IoT solutions for smart construction, will receive up to 260 million ruble ($3.4 million) from two major corporate funds: Orbita Capital, the venture arm of state corporation Rosatom, and Veb Ventures (formerly VEB Innovations), which is backed by state development agency VEB.RF (Vnesheconombank). The startup will receive a first tranche of 130 million rubles, the second …

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