Internet

Yandex sharpens knives for international expansion, still seeking audience outside Russia

June 26, 2012

Yandex’s international ambitions, which began to surface publicly half a year ago, found new illustrations last week in informal statements made by the company’s CEO at the St. Petersburg International Economic Forum. “Our technical team has successfully tested technologies that will allow us to index several tens of billions of pages,” said Arkady Volozh, who …

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Internet investment triples in just 12 months, but market still lacks transparency

June 26, 2012

The last two years have shown a significant increase in venture capitalists’ interest in the Russian Internet, says a report released yesterday by Fast Lane Ventures, a major player in the field. Fast Lane identified no fewer than 215 venture deals in 2011, up from 59 during the previous year. The total investment volume during …

Internet investment triples in just 12 months, but market still lacks transparency Read More

Oleg Tinkov teams with Goldman Sachs to invest in online advertising and mobile

June 26, 2012

Russian businessman Oleg Tinkov last week announced the launch of Tinkoff Digital, an Internet company that will develop new technologies and products for the online and mobile advertising markets. Goldman Sachs will join Tinkov as a co-investor and shareholder in the business at an undisclosed share split. Tinkov and Goldman Sachs will initially invest approximately …

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eBay to strengthen presence in Russia

June 21, 2012

Demonstrating the growing importance of the Russian market, eBay is opening a representative office and subsidiary in Russia under the name eBay Marketplaces. The US giant will be represented by Vladimir Dolgov, previously Country Manager for Google and a former General Manager at Ozon.ru, a leading online retailer. The news was reported by the Russian business …

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KupiVip raises $38 million from leading Western funds

June 21, 2012

KupiVip Holding, the owner of the largest online fashion shopping club in Russia, has raised $38 million in a Series D funding deal led by Intel Capital, with new investment from Acton Capital Partners and the European Bank of Reconstruction and Development. Historic investors Accel Partners and Balderton Capital also participated in the round. KupiVip’s …

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MallStreet.ru sees sales grow 5-fold in one year, secures $1 million in second-round financing

June 20, 2012

MallStreet.ru, a Russian online retailer that until recently had remained under the radar, has just secured $1 million from investors in its second round of financing in less than a year. Neither the site’s valuation nor the investors’ identity were disclosed, but Mallstreet CEO Dmitry Shashkin told East-West Digital News that French business angel Fabrice …

MallStreet.ru sees sales grow 5-fold in one year, secures $1 million in second-round financing Read More

New online retailer association at war with gray commerce and marketplace’s influence

June 20, 2012

Twelve major Russian online retailers have founded the ‘Association of Internet Commerce Companies’ (AKIT in Russian), with the aim of combating market opacity and distortions as well as of “guaranteeing users’ security and trust.” The association has opened hostilities against ‘gray’ e-retailers, those who avoid taxes in order to sell cheaper and maximize their profits. …

New online retailer association at war with gray commerce and marketplace’s influence Read More

How to gray-trade for millions

June 20, 2012

What is the first thing you normally do when you want to buy, say, an LCD TV over the Internet?  Let me guess: you go to Russia’s leading online marketplace, Yandex Market, and look for the desired product – then buy it wherever it’s cheapest. Here is the paradox: the best offers usually come not …

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KupiVip.ru confirms plans for IPO in New York “within 2 years”

June 19, 2012

KupiVip’s CEO Oskar Hartmann confirms plans to hold an IPO in New York “within two years,” Reuters reported yesterday. “We have already made quite good progress and [an IPO] is likely. We need to grow to reach the size [of business] that allows us to do a round of $120 million or more,” Hartmann told reporters. …

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Facebook acquires Face.com; shareholder Yandex may get stake in US social giant

June 19, 2012

After weeks of rumors, Israeli face recognition startup Face.com officially announced yesterday its acquisition by Facebook. The exact terms of the deal were not disclosed, but two unnamed sources familiar with it told AllthingsD that the price was in the neighborhood of $60 million. The amount is significantly below the $100 million that had been rumored previously, but almost three …

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Odnoklassniki to launch English version

June 19, 2012

Odnoklassniki.ru, the second largest Russian-language social networking site, will soon be available in English. The decision was announced yesterday by Alexander Izryadnov, an executive at the Mail.ru Group, the LSE-listed Russian Internet group that is the site’s sole owner. “Odnoklassniki is used in 229 countries around the globe, the Pitcairn Islands being the sole exception,” …

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