In 2012, Russians spent $8.6 billion on luxury goods and in 2013 became the eighth largest market globally for high-end products. While the luxury brand market in Russia is expanding, the lack of understanding Western brands have of the Russian digital market acts as a significant handicap to online sales. Here are the top 3 ways Western luxury …
3 ways to improve digital marketing of luxury brands in Russia Read More
The Russian Direct Investment Fund (RDIF) and international infrastructure partners will take part together in the financing of a Rostelecom project to eliminate digital inequality among Russian regions, the national telecom operator announced in late May. Total investment by the fund and its partners in the project could come to 67.5 billion rubles (about $1.9 …
Earlier this week Criteo, a Paris-based, NASDAQ-listed digital performance advertising company, announced the official opening of its Moscow office. The company, which considers Moscow the entry point and “central hub for Russia and Russian speaking markets,” aims to improve its ability to help advertisers reach Russian consumers online across multiple devices, including mobile.
Founder of Russian social network Vkontakte Pavel Durov has filed a lawsuit in the US against his former partners in the project and a fund with a stake of almost 50 percent in Vkontakte. He accuses them of fraud and of extorting a stake in the instant messaging application Telegram. Durov and his two companies …
Banki.ru, one of the largest B2C banking portals on the Russian-language Internet, has acquired Finparty.ru, a resource offering informal coverage of the finance industry, IKS Media reported last week. Founded in 2010, Finparty also includes Finparty Events, an agency that organizes corporate events.
Trading of Yandex shares on Moscow Exchange started yesterday in Russian rubles under symbol “YNDX”. Shares also continue to trade on the NASDAQ Global Select Market, where the search company was introduced in 2011. Sberbank CIB1, the corporate and investment banking business of Sberbank, acted as financial advisor to Yandex. In addition, Morgan Stanley & Co. …
Three years after NASDAQ IPO, Yandex introduced on Moscow Exchange Read More
Last week Rostelecom, the Russian national telecom operator, rolled out the beta version of its long-awaited new portal last week, offering visitors what the developer believes to be an easy-to-use and reliable combination of search, news and ‘life navigation’ capabilities. Available in Russian only, Sputnik.ru is a service and search portal designed to “improve the users’ …
New search engine Sputnik provides Russians with “safer and more useful” Internet Read More
Reverse image search – or searching not by words but by visual content – has just become available to users of Yandex.com. This feature works on computer vision technology created by developers at Yandex. We’ve named it “Sibir” (Russian for “Siberia”), from the acronym CBIR, which stands for “content-based image retrieval”. The technology transforms pictures, submitted by users …
TNS has conducted research on the popularity of electronic payment methods among Russian online shoppers of different age and demographic groups. Electronic currencies (such as Yandex Money, WebMoney, Qiwi Wallet and PayPal) rank among the three most popular electronic payment methods for the 12-55 year old age group. The survey found that 97% of respondents had …
TNS studies the popularity of electronic currencies in Russia Read More
Earlier this month, Russian search engine Yandex made big news by nominating German Gref, the head of state-owned Sberbank, to its Board of Directors. Some may see this as yet another attempt by the Kremlin to crackdown on the Internet. But it wasn’t. Yandex looks as strong as ever as one of the world’s very …
Why Russia’s government cares about Yandex so much Read More
ECWID, arguably one of the most successful Russian startups of the past few years, announced today that it has secured $5 million from iTech Capital and Runa Capital, two major Moscow-based venture funds with global portfolios. The startup will utilize the Series B funds to accelerate its already rapid growth, further developing its mobile and …
India’s largest online retailer, Flipkart, announced earlier this week a $210 million investment led by DST Global, the later-stage Internet investment fund founded by Russian billionaire Yuri Milner. “Flipkart is one of the fastest growing internet companies globally led by visionary founders,” Milner said.
