International

Russian online programming school attracts $10 million to pursue global expansion

February 25, 2021

Algorithmics (Algoritmika in Russia), a leading Russian online school of programming, has attracted $10 million in equity funding. Two major funds have backed the startup: Winter Capital and the Russian Chinese Technology Investment Fund. A previous investment came in 2019, when Mail.ru Group acquired a minority stake in the startup.  Founded in 2016, Algorithmics offers …

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Clubhouse frenzy hits Russia

February 26, 2021

Trendy social media app Clubhouse is seeing an extraordinary surge of interest among Russians as it launched last week in the country.  The social network saw the audience for its audio-chat service increase 20-fold as big brands and top managers from major companies signed up. The former head of Russia’s financial regulators even appealed for Central Bank Governor …

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French-Russian Forum on Artificial Intelligence (Feb. 26)

February 23, 2021

The first Russian-French Forum on Artificial Intelligence will be held on Feb. 26, 2021 by videoconference. This event is intended for French and Russian-speaking audiences. Its program is available in French language through this link. Representatives of the business community, research institutes, higher educational institutions, as well as government circles from the two countries will …

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Two months after its $1.2 billion IPO, Ozon prepares to issue $750 million worth of convertible bonds

February 19, 2021

Russian e-commerce major Ozon is to offer bonds worth $750 million (aggregate principal amount). These bonds will be issued “on or around Feb. 24, 2021,” with further listing on “an internationally recognized, regularly operating stock exchange.”  The company provided the following details on the offer: These are senior unsecured convertible bonds, which will be convertible into American Depositary …

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Fashion and e-commerce leaders discuss market, tech and sustainability at Moscow event (March 2)

March 10, 2021

The 4th edition of Fashion Tech Day, Russia’s leading conference on fashion retail tech and e-commerce, will be held in an offline and offline format in Moscow Expocenter. More than 2,000 participants are expected, including hundreds attending the physical event. Co-organized by East-West Digital News, the event will involve a variety of fashion brands, retailers …

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Local merchants now generate 25% of AliExpress Russia’s business

February 17, 2021

AliExpress Russia has just disclosed a series of interesting activity indicators — from audience, to sourcing, to logistics — confirming its leadership on the cross-border e-commerce segment and a growing traction on the domestic segment.  By the end of 2020, the platform’s monthly audience reached some 29.1 million users (8.8 million daily). The platform does particularly …

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Russian WiFi marketing startup makes first steps in US market

February 16, 2021

Moscow-based IT company Hot-WiFi has announced its entry on the US market. The Russian startup offers businesses a guest WiFi hotspot network with marketing functions and data analytics services. This approach may increase the turnover of a coffee shop, for example, by 10% as shown by a business case in Moscow. Founded in 2012, Hot-WiFi has …

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Mail.ru Group, Alipay, USM, MegaFon and RDIF team up to develop payment and financial services

February 16, 2021

On Feb. 12 Alipay owner Ant Group, LSE-listed Mail.ru Group, mobile operator MegaFon, sovereign fund RDIF and Alisher Usmanov’s holding USM signed binding agreements to create a payments joint venture (PJV) and a financial services joint venture (FSJV). The deals, which follow an October 2019 non-binding agreement, are still subject to “a number of conditions including third …

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Lithuania, Europe’s new startup hotspot, welcomes globally-minded entrepreneurs

February 13, 2021

Did you know Lithuania ranks #4 in the world for its fintech ecosystem; #11 for ease of doing business; and #1 for the speed of its public Wi-Fi? No wonder why this country is attracting a growing number of startups from across the world, including Eastern Europe. Its high quality of life, low cost of living and …

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How to seize digital business opportunities in Russia in pandemic times

February 16, 2021

For sad as a pandemic can be to many, Covid-19 has generated a variety of opportunities in Russia for international businesses. Many of them may be seized remotely. To start with, here are a few remarks about the current trends in Russia’s digital sphere:  According to Boston Consulting Group, Russia is among the four world …

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Moscow ranks #3 among cities of the world for anti-Covid innovations

February 9, 2021

StartupBlink has just ranked cities of the world by the number and quality of anti-covid innovative solutions. In the list, which includes 80 cities from 31 countries, Moscow ranks third — behind San Francisco and New York City, but ahead of such major cities as Toronto, Tel Aviv, London, Taipei and Paris.  Among Moscow’s innovative …

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Report: Russian software companies generate growing sales in emerging markets

February 5, 2021

Last month Russoft, a major Russian IT association, released its 17th “Annual survey of the software development Industry.”   Even though its data relate mostly to 2019 — not 2020, — this report offers a variety of interesting market insights. Some of them may be summarized as follows: Sales volumes: The Russian software industry (including both software …

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