Last week Yandex, the NASDAQ-listed Russian Internet giant, announced its unaudited financial results for Q4 and FY 2019. Consolidated yearly revenues grew 37% from 2018, reaching 175.4 billion rubles ($2.83 billion). Yandex’s adjusted net income increased by a more modest 6% to 23.5 billion rubles ($380.3 million). These results are below what analysts had pencilled in, …
Last week several court decisions brought new developments to the Baring Vostok case, which started one year ago with the arrest of the firm’s executive team. On Monday, Feb. 10, a Moscow court ruled to keep US citizen Michael Calvey and French Philippe Delpal under house arrest until May 13. The two expats had been …
One year after Michael Calvey’s arrest, the Baring Vostok case could soon come to an end Read More
ASOdesk, a Moscow based mobile marketing solution and service provider, has just agreed a $1 million investment from Embria. The amount will be provided in two tranches within a year in exchange for a minority stake. Launched in 2015, ASOdesk touts itself as an “all-in-one solution to grow [your] app business.” It helps companies in app …
Russian mobile marketing solution provider receives $1 million to go global Read More
When Masha Drokova became one of the leaders of ‘Nashi’, a pro-government Russian youth movement, many years ago, who would have guessed her business successes in Silicon Valley would be featured one day in top US publications? Drokova’s first professional experience as a TV host and producer in 2008 prepared her to make a lightning …
From politics, to PR, to venture: How a young Russian woman made her way to Silicon Valley Read More
After receiving a $40 million capital injection last year, Russian online video company ivi.ru has plans to go public this year, according to Kommersant. Unnamed industry sources told the business daily last week that the operation could take place on the NASDAQ by the end of this year with JP Morgan Chase underwriting the IPO. The ivi.ru …
Video streaming platform ivi.ru considers NASDAQ IPO this year Read More
Over the past few weeks three online delivery startups ceased activities, having failed to turn a profit or demonstrate viable business models. The e-grocery delivery service Golama made the news last year as it completed a $2.3 million round of funding, then agreed with VEB Ventures an additional $7 million capital injection. In mid-January 2020, however, …
Three Russian online delivery startups shut down amid strong market growth Read More
New Industry Ventures, a Russian fund created last year, today announced its first deal. The fund has injected 100 million rubles ($1.6 million at the current exchange rate) in ADL Completions, a startup launched in 2017 to develop technological solutions in multilateral and multi-bore well completion. These solutions allow “side-tracks” to be built onto existing wells, maintaining the flow-rate …
Russian oil tech startup receives $1.6 million from state-supported industry fund Read More
On Wednesday, on the sidelines of the World Economic Forum in Davos, the Russian Direct Investment Fund (RDIF) announced its intention to invest in three big Russian startups. The sovereign wealth fund is teaming up with Baring Vostok, a leading Russian private equity firm, and unnamed funds from the Middle East, to invest in CarPrice. Founded in …
[Updated Jan. 21] Rostelecom, the national telecom operator, is in the process of acquiring 31% of FRII Invest, the investment vehicle of the Internet Initiatives Development Fund (IIDF, or FRII in Russian). This is Russia’s biggest fund for early-stage startups, launched in 2013 as an instrument to support the emergence of a strong startup industry in Russia. Rostelecom’s is …
State-controlled corporation backs Russia’s leading startup investment fund Read More
Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends in Eastern Europe. Since January 2019, 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 this region. This full-year 2019 review lists the most important investment and …
Avito, the Russian online classifieds giant – which Naspers acquired in 2015-2019 for nearly $3 billion – has purchased a controlling stake (51%) in Russian software publisher MaxPoster. Operating from its Moscow and St. Petersburg offices, this company provides software solutions to estimate the value of used cars, manage classifieds to sell the cars, and …
Avito acquires controlling stake in used car software publisher Read More
Yesterday a Moscow court prolonged the house arrest of US citizen Michael Calvey, French Philippe Delpal and other Baring Vostok executives for another month, until February 13. As reported by the TASS news agency, the investigation into the case is completed. All the defendants are charged with “embezzlement committed by an organized group or on …
Russian court extends house arrest of Michael Calvey and other Baring Vostok executives Read More
