International

One year after Michael Calvey’s arrest, the Baring Vostok case could soon come to an end

February 17, 2020

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

Twitter and Facebook fined over Russian personal data storage law

February 14, 2020

Yesterday a Russian court fined Twitter and Facebook 4 million rubles ($62,845) each for their failure to comply with Russia’s personal data storage law. According to the Russian media, the court session was attended neither by the representatives of the two companies nor by those of Roskomadzor, the Internet and telecom regulator, which filed the …

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Russians can use Qiwi, Sberbank, Yandex Money and now Binance P2P Exchange to buy bitcoin with rubles

February 14, 2020

As international demand for cryptocurrency is on the rise again, Russian searches for “биткоин” (bitcoin) on both Google and Yandex have been increasing. In the past month, Russian speaking users have been asking the search engines about bitcoin’s current rates in US dollar and Russian ruble and over the past week there’s been a 350% …

Russians can use Qiwi, Sberbank, Yandex Money and now Binance P2P Exchange to buy bitcoin with rubles Read More

Facebook removes dozens of Russian accounts spreading propaganda in Ukraine

February 14, 2020

Facebook has taken down 78 Russian-based accounts and pages spreading misinformation in Ukraine and neighboring countries on behalf of their government. The company reported on Feb.12 that three unconnected networks of accounts originating from Russia, Iran, Vietnam and Myanmar were removed for “coordinated inauthentic behavior” and “foreign or government interference.” According to the report, 11 pages, 29 …

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Russian mobile marketing solution provider receives $1 million to go global

February 13, 2020

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 …

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“Internet sovereignty:” Will Russia isolate its Internet segment from the rest of the world?

February 10, 2020

On Nov. 1, 2019, Russia’s so-called sovereign Internet law came into force “to ensure the integrity, continuity, stability, resilience, and security of the functioning of the Internet’s Russian national segment.” Its practical purpose is to prepare the country to be potentially cut off from the rest of the World Wide Web. The new legislation, however, is …

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Russia’s TCS Group ventures into fintech in Europe

February 10, 2020

Leading Russian consumer lender TCS Group, which operates Russia’s only pure online bank Tinkoff, will invest in the fintech project launched in Europe by two of its managers. As reported by bne IntelliNews, the capitalisation of TCS topped $5 billion in London this week. The bank’s investment case is seen as solid, as it has transformed from credit card …

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From politics, to PR, to venture: How a young Russian woman made her way to Silicon Valley

February 21, 2020

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

Video streaming platform ivi.ru considers NASDAQ IPO this year

February 7, 2020

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 …

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Facebook, Twitter threatened with fines over data localization law

February 2, 2020

Facebook and Twitter have not provided yet the required information about the storage location of the Russian personal data they process, the authorities stated Friday. Roskomnadzor, the Internet and telecom regulator, said Friday the two companies could be forced to pay a fine ranging from 1 million rubles (approximately $16,000) and 6 million rubles ($94,000). …

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Meet fashion tech and e-commerce leaders at Fashion Tech Day (Moscow, March 19)

March 19, 2020

On March 19 the Moscow Expocenter will play host to the third edition of Fashion Tech Day, a must-attend conference dedicated to the fashion retail tech and e-commerce industries (see presentation in Russian).  This event is co-organized by East-West Digital News and OneWay, a developer of online stores for clothing, footwear and accessories. It enjoys the support …

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Sovereign fund RDIF to back car sales platform, food delivery service and online travel agency

November 12, 2020

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 …

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