Internet

From ‘Kalinka’ to high tech startups, two conferences showed Russia’s changing face

June 4, 2012

Two important international tech events took place on May 28 and 29 in Moscow, nearly simultaneously and almost in the same location, a former chocolate factory in center town. The first was the legendary DLD Conference, making its Moscow debut, and the second event was an international startup and investor conference named “42.” The events …

From ‘Kalinka’ to high tech startups, two conferences showed Russia’s changing face Read More

Gala Records ends litigation vs. Mail.ru Group

June 1, 2012

Gala Records, Russia’s first private music record label, has withdrawn six legal claims it earlier advanced against Mail.ru Group for alleged rights infringement and instead inked a license agreement with the leading Russian Internet company, the Russian business daily Vedomosti reported on Monday, citing direct exchanges with the two companies’ spokespersons. Under the terms of …

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Vkontakte’s IPO “postponed indefinitely;” shareholder Mail.ru Group yields control to founder

May 30, 2012

“No IPO is being planned. Facebook’s IPO has destroyed the trust of many individual investors in social networks, so [our] IPO is postponed indefinitely,” Vkontakte’s founder and co-owner Pavel Durov tweeted on Monday, answering a Russian journalist’s question. Durov had expressed his IPO intentions a mere five months ago at the DLD tech conference in …

Vkontakte’s IPO “postponed indefinitely;” shareholder Mail.ru Group yields control to founder Read More

Police drop the ball on copyright complaint; culprit remains unidentified

May 30, 2012

In yet another investigative deadlock only too common for cybercrime cases in Russia, Moscow police have suspended what could have become a bellwether inquiry into a copyright infringement offence, Russian business daily Vedomosti reported earlier this week, citing an official police source. A 27-year-old Muscovite has been suspected of having “replicated and disseminated” 18 copyrighted music …

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Russian social gaming market nearly tripled in 2011

May 29, 2012

According to Mail.Ru Games, in 2011 the total social gaming market in Russia reached $236 million, which is 180% higher than in 2010. Such impressive growth was accompanied by redistribution of the income: developers’ and social networks’ share has increased, while earnings of payment systems decreased. The Russian social gaming market is booming at an …

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Leta Group launches venture fund, announces Displair as first investment

May 28, 2012

Last week, Leta Group, a prominent Russian IT security holding, announced  the launch of ‘Leta GIV,’ its corporate venture arm, along with its first investment – interactive air screen maker Displair. “Generating projects internally is not enough to seize the opportunities offered by Russia’s booming innovation environment, so we decided to create this dedicated vehicle,” …

Leta Group launches venture fund, announces Displair as first investment Read More

Fast Lane Ventures and Ru-Net launch event management and ticket booking system

May 25, 2012

Moscow-based serial startup developer Fast Lane Ventures has teamed up with Ru-Net, an established Russian venture fund, to launch Eventmag.ru, an online service to organize events and book event tickets. The well known US site Eventbrite.com was taken as a model, Fast Lane openly acknowledges, with the ultimate goal of providing a ticket selling platform …

Fast Lane Ventures and Ru-Net launch event management and ticket booking system Read More

Online furniture retailer HomeMe.ru secures $5 million from leading Russian and Western funds

May 23, 2012

HomeMe.ru, a website offering furniture and some home accessories, announced last week it has raised $5 million in a Series A round of financing from Russian venture funds AddVenture and ABRT, as well as from Mangrove Capital Partners, a fund headquartered in Luxembourg. Launched in early 2012, HomeMe.ru currently has an assortment of 2,000 stock …

Online furniture retailer HomeMe.ru secures $5 million from leading Russian and Western funds Read More

David Waroquier of Mangrove Capital Partners: “In the coming two years, we expect to see a few major exits in the e-commerce sphere.”

May 21, 2012

A pioneer among foreign investors on the Russian venture scene, David Waroquier of Mangrove Capital Partners is a recognized expert of the local Internet ecosystem and a reference partner for several Russia-based ventures. He shared with East-West Digital News his vision of the fast-growing Russian online retail market, its challenges, and the possible exit scenarios for investors in this industry. …

David Waroquier of Mangrove Capital Partners: “In the coming two years, we expect to see a few major exits in the e-commerce sphere.” Read More

Web portal connects innovators with large corporations

May 21, 2012

Innobis.ru, a website launched eariler this month, could help Russian startups and innovators find clients among large companies in need of innovative solutions – something most of them have found to be a difficult challenge until now. Corporations post their requests, problems, or proposed tasks on the website, and innovators can reply, offering their technologies. …

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Siberian local review service Flamp.ru now serves Moscow

May 21, 2012

Flamp.ru, a consumer review website that appeared one year ago in the Siberian cities Novosibirsk and Krasnoyarsk, followed by a launch in Ekaterinburg in the Urals, announced last week it now covers the Russian capital. Not only do Flamp.ru users review local businesses like cafés, museums and theaters, they can also post comments about banks, …

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