Internet

IIDF to support big data, wearable tech and Internet-of-things startups

December 26, 2018

Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), the $200 million fund launched last year to support Russian Internet startups, announced the extension of its coverage to such new fields as big data, wearable devices and the Internet-of-Things. “We did quite a lot of research on technological trends across the world. Cloud, social and …

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Lamoda’s losses exceeded $50 million in 2013; site exposed to risk due to international tensions

September 29, 2014

Internet clothes and shoes store Lamoda chocked up losses last year, according to the IPO prospectus of business incubator Rocket Internet. In spite of the fact that its revenue more than doubled, its net loss was 1.7 billion rubles (approximately $53.4 million). These figures had not been disclosed previously. According to the prospectus, Lamoda had …

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Almaz Capital leads $4 million funding round in US e-commerce solution provider

September 26, 2014

This past Wednesday Content Analytics, an analytics platform that recommends e-commerce catalog optimization strategies, announced it secured a $4 million Series A funding led by Almaz Capital. Geoffrey Baehr, a general partner at Almaz Capital, has joined the startup’s board of directors. Also participarting in the round is dunnhumby Ventures, the venture capital arm of a …

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Yandex launches home service marketplace

July 14, 2016

Yandex, the Russian search giant, has launched an online marketplace for household services. The new platform encompasses a variety of services ranging from appliance repairs and installations, to home cleaning, computing assistance and courier services. The marketplace lists service providers’ information, including their prices and client reviews. Consumers can leave their feedback and also rate the quality of …

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Kremlin weighs options for isolating Russian Internet in event of crisis, fuelling concerns from rights activists and free-minded bloggers

December 21, 2018

On October 1st, the Russian Security Council will discuss issues of internet protection in emergency situations, such as military action or mass protests inside the country. In addition, the possibility of handing over domain administration functions to the state will be considered. While the Kremlin insists that the main purpose of the meeting is to …

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Russia Partners sells US startup with Ukraine-based IT team to Japan’s Rakuten

September 23, 2014

Earlier this month Russia Partners, the Moscow-based private equity affiliate of global alternative investment firm Siguler Guff & Company, announced that Rakuten acquired Slice, a portfolio company in its technology fund. The details of the deal have not been revealed. Over the past few years, the Japanese online retail company has invested several billion dollars in …

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Runa Capital leads $2.2 million round in US school admission startup

September 23, 2014

Runa Capital, a venture firm operating globally from its offices in Moscow and San Francisco, has led a $2.2 million funding round in SchoolMint, a leading provider of mobile and online enrollment systems for US public, charter and private schools. Several US funds and business angels have also participated in the round: among them are …

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TMT Investments backs Israeli startup Twtrland

September 18, 2014

Earlier this month TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, announced an investment in Israeli startup Twtrland. The size of the investment has not been disclosed. Twtrland analyses social network content to help users find new contacts based on social media output, interests, age, location etc. It also provides graphics to help users visualise their …

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Mobile banking botnet creator arrested for the first time in Russia

September 18, 2014

Global Internet security company Group-IB has assisted the Directorate K of the Russian Ministry of Internal Affairs to investigate and suppress the activities of a criminal group that specialized in stealing funds from the bank accounts of individuals. Towards the end of 2013, the security service of Sberbank detected a cyber-attack on owners of Android …

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US investors sail away from Ostrovok.ru

September 17, 2014

Early last year, Russian travel booking site Ostrovok.ru raised $28 million in a Series B round led by General Catalyst Partners, to much fanfare. By the end of the year, however, both General Catalyst and another investor, Accel Partners, had quietly divested their holdings, as Dow Jones VentureWire reported this morning. General Catalyst Managing Director and Co-Founder Joel Cutler confirmed that …

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Yandex introduces personal recommendations to its music streaming service

November 19, 2014

Yandex has re-launched Yandex.Music, its music streaming service. The newly revamped service now offers a system of personal recommendations for Yandex.Music users to discover new songs and artists every day. Yandex.Music recommendations are based on users’ personal preferences, music that their friends on VK.com or Facebook listen to, as well as the latest new hits, …

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Mail.ru Group takes over Vkontakte: The happy end of a 3-year financial, legal and political saga

March 15, 2022

Yesterday, Mail.ru Group, the LSE-listed Russian Internet giant, announced it now fully controls Vkontakte (VK.com), the leading Russian language social network with over 250 million registered accounts and 60 million daily users. The group, which already owned 52% of the company, bought the remaining 48% stake from UCP, the Russian investment fund that had become a …

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