Internet

Cross-border e-commerce: Adapting payment options to Russian online consumers

February 24, 2016

In a cross-border market that is still growing fast, reaching around $4 billion in 2014 for physical goods, the Russian payment issue is to be considered carefully by foreign online retailers.  So far, not all of them have adapted their approach to the local specificities in the field of payments — which certainly stands as an obstacle to attracting more Russian …

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Controversial post by Russian LGBT activist: VKontakte less restrictive than Facebook

June 9, 2015

Facebook has deleted a post by Russian LGBT rights activist Lena Klimova, where she published images of people who have sent her death threats, Russian opposition-minded online publication Meduza reported. The full photo album had been first published on VKontakte (VK.com), Russia’s most popular social network, but Klimova also posted excerpts to her Facebook account. On April 21, …

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Russia’s best Twitter parody accounts

February 24, 2016

Twitter has blocked a satirical account ridiculing Igor Sechin, the powerful head of state-owned Russian oil giant Rosneft and a long time confidant of Russian president Vladimir Putin. The account, @Igor_Sechin, was blocked inside Russia after the state media watchdog Roskomnadzor complained to Twitter that it violated Russian privacy laws. Frequently obscene and ferociously critical of the Kremlin, @Igor_Sechin is among a handful of popular Russian-language Twitter parody …

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Wikimart co-founder and CEO Maxim Faldin: “Virtually all Russian legitimate e-commerce companies are unprofitable”

July 2, 2017

Launched in 2008 by Stanford graduates Maxim Faldin and Kamil Kurmakaev, Wikimart had the initial ambition of creating a Russian analog of eBay. Funded initially by major US investment funds, then by Russian investors, the startup has now become a major marketplace offering its own products alongside nearly 2 million items from over 1,000 merchants. In a recent …

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June 4-5: Top executives and experts to discuss Russian and global e-commerce trends in Moscow

May 12, 2015

East-West Digital News is proud to announce the upcoming e-Days E-Commerce Conference, Russia’s first internationally-oriented industry event. The second edition edition of this annual event will be held in Moscow on June 4 and 5, in association the chambers of commerce of France and Great Britain and online marketing agency BuzzFactory joining EWDN as co-organizers and …

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Loyalty program, mobile payments, personal data storage: AliExpress to conquer Russian e-commerce on all fronts

February 15, 2017

Over the past few weeks, AliExpress has multiplied initiatives to strengthen its leadership on the Russian e-commerce scene. The Chinese giant has teamed up with Russian online bank Tinkoff Bank to launch a co-branded loyalty program. Associated with MasterCard credit and debit cards, this program is the first of its kind in the world, said …

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Yandex announces Q1 2015 financial results

February 25, 2016

Moscow and Amsterdam, Netherlands – Yandex (NASDAQ: YNDX), one of Europe’s largest internet companies and the leading search provider in Russia, today announced its unaudited financial results for the first quarter ended March 31, 2015. “Despite a challenging macroeconomic environment, we delivered good top-line performance with text-based advertising on our own sites growing 14%. The number …

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Roman Abramovich invests $15 million in Israeli startup Music Messenger

February 25, 2016

As reported by Reuters, Russian billionaire Roman Abramovich has invested $15 million in Israeli startup Music Messenger, leading a $30 million round which also involved Benny Andersson from pop band ABBA, artists David Guetta, Will.i.am and Avicci, and Gee Roberson, manager of Nicki Minaj. Co-founded by Israeli entrepreneur O.D. Kobo and launched seven months ago, this Israeli …

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Last-minute booking app HotelTonight enters Russian market

February 25, 2016

HotelTonight, a mobile booking application that helps travelers reserve hotel rooms at the last moment, is coming to Russia, the US company announced via Twitter earlier this month. “We invest in markets where people are ready for spontaneous travel and adapt well to new technologies,” said HotelTonight CEO Jared Simon. “Russia was ideal. Russians don’t plan one …

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KupiVIP acquires footwear retailer Sapato.ru

February 25, 2016

KupiVIP, a major Russian online fashion group, announced today the acquisition of footwear retailer Sapato.ru and its 6-million client base from the Ozon group. “The acquisition will help KupiVIP strengthen its position by significantly expanding its client base and product assortment,” KupiVIP stated. The acquirer also expects to benefit from Sapato’s “deep expertise in international purchases in …

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Russian startups look westward

February 25, 2016

Even though Russia’s internet-related businesses make up just 10 percent of the country’s GDP, more e-commerce and discovery commerce startups are looking at the U.S. market for ample investment and opportunities for growth. 2for1, a fledging Russian-Ukrainian startup is one such company that has tailored its project for the U.S. market.

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