Internet

Delivery Club secures $8 million from Phenomen Ventures, AddVenture and Guard Capital

December 18, 2013

Delivery Club, a Moscow-based online food delivery service aggregator, has completed its fourth round of financing with $8 million secured from Phenomen Ventures as well as from existing investors AddVenture and Guard Capital. The startup had initially raised $400,000 in 2009, then $1 million from AddVenture and prominent Russian businessmen in 2011, then again $4 …

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Social network Odnoklassniki shuts down e-commerce marketplace

December 17, 2013

Odnoklassniki Russia’s second largest social network, has shut down its online marketplace “Magaziny” (‘Shops’ in Russian), reports the Russian tech blog Roem.ru. The marketplace had been launched just half a year ago. The service enabled big and small merchants to promote and sell their products easily in a dedicated section of the social network. Purchases …

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Anti-piracy law is good, tech makes it better

December 16, 2013

When I moved to Russia, I was astonished by the pervasiveness of Internet piracy. Movies, music, software, books — everything was at my fingertips, free of charge and in the language of my choice. When my Russian friends learned that I pay for a Netflix account, they burst out laughing. Why, they asked, would I pay for something that is available for free? During my time in Russia, …

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Voronezh region now has its first IT project accelerator

November 19, 2014

The sizable agricultural and industrial region of Voronezh, some 500km south of Moscow, is expected to host GlassHouse, the first venture accelerator for IT projects in the entire Russian “Black Earth” region along the border with Ukraine. The accelerator will feature a premium-class office center and is designed to foster the rapid development of high-tech …

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Global game developer Nival raises $6 million from Russia’s Almaz Capital

October 6, 2016

Nival, a global developer of cross-platform strategy games, announced today that it has secured $6 million from the Russian fund Almaz Capital to fuel its global expansion strategy. The valuation of this Series A round has not been disclosed. To date Nival has been financed by CEO and founder Sergey Orlovskiy, who holds a majority …

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Otto Group’s eTraction helps third-party fashion brands migrate online

December 12, 2013

eTraction, the B2B e-commerce service division of the Otto Group launched earlier this year, has supported the e-commerce launch of the brands of Melon Fashion Group, a sizeable player in the fashion retail industry with over 550 outlets in Russia and neighboring countries. The three brands of the group – Befree, Zarina, and Love Republic …

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Yandex announces proposed offering of $600 million convertible senior notes

November 19, 2014

Moscow, Russia and The Hague, Netherlands — Yandex N.V. (Nasdaq:YNDX) (“Yandex” or the “Company”), one of Europe’s largest internet companies and the leading search provider in Russia, today announced that it proposes to offer US$600 million in aggregate principal amount of convertible senior notes due 2018 (the “notes”), subject to market conditions and other factors. …

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RBK Money gets payments services authorization in the UK, aims for EU expansion

December 10, 2013

London/Moscow – RBK Money, a leading online payments provider in Russia, announced today that it has been granted the status of an Authorized Payment Institution by Financial Conduct Authority (FCA) in the UK. This enables RBK Money to offer its payment services across all the EU member states under the Payment Services Directive (PSD). This …

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AddVenture invests in e-store Nebo.ru and food delivery startup Chefmarket.ru

December 9, 2013

Nebo.ru (‘sky’ in Russian), the largest Russian online jewelry store to date, has attracted a $2 million investment from Moscow-based fund AddVenture. The transaction, which terms have not been disclosed, was negotiated in October but only made public in late November. Founded in 2008, Nebo.ru claims to be the largest online retailer in its segment. …

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Russian-language hitman services website offers “comprehensive beating” for $3,000

December 9, 2013

A Russian-language website, Zakazat-killera.com (“Hire a Killer”), is advertising services ranging from “physical elimination” to intimidation by taking targets for a “chat” in the woods. The site’s instigators present themselves as “an organization of kind, sincere, responsive people who can come to your aid if you need to take someone out into the woods and there nicely ‘tell him off’ or …

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Russia’s Black Friday likely to break records

December 6, 2013

The Russian calendar is consistent in its delay versus the American one, even for e-commerce bonanzas, with the local version of Black Friday taking place this Friday. Online consumers in the US, who were expected to spend more than $680 million in one day, flexed their muscles during the event on Nov. 29, with retailers there saying Russia was in many cases the No. 1 foreign …

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