Former telecommunications minister and presidential counselor Leonid Reiman has created and personally invested in a fund called Alternative Capital Investment. Partners in the fund are a Cyprus-based subsidiary of VTB, a leading Russian bank controlled by the Russian state, and other unnamed investors.
AddVenture, one of the most dynamic Russian venture funds, has announced a new fund, AddVenture III. The fund has already raised $7 million “but since it is structured as a corporate vehicle, it could amount up to $50 million in the next two to three years,” Maxim Medvedev, one of the founders, told EWDN.
Yandex triumphantly started trading yesterday on NASDAQ, with its shares subscribed 17 times more than had been made available, reported Reuters from an unnamed source. After initially considering a $20 to $22 price range per share, the company defined its IPO pricing at $25 per share, but after trading started, the price surged to nearly …
Yandex shares oversubscribed 17 times, surge up to 60% over initial pricing Read More
An original event took place last week in Moscow: Positive Hack Days — an international forum on practical information-security issues that aimed to “unite hackers and information security companies so that they could understand how much they need each other.” In addition to roundtables and masterclasses on a wide range of information security issues, the …
Apple’s Safari forced by hackers at Moscow contest Read More
During a visit to New Delhi last week, a top-level delegation of NIS GLONASS, Russia’s national provider of satellite-based navigation services, exchanged opinions with DIMTS, an urban transport and infrastructure services company backed by the Delhi government, about implementing intelligent transportation systems in Russian and Indian cities as well as about furthering commercial development. The …
During a visit to Kazan’s IT-Park earlier this month, presidential aide Arkady Dvorkovich praised Tatarstan for successfully implementing e-government at the local level. For example, now a couple wanting to marry can file an application online with a registry office, and parents can apply via the Internet for a place for their child at a …
Yandex looks to raise up to $1.1 billion offering 52 million shares between $24 to $25 a share, up from an initially considered price of $20 to $22, commanding a market value around $7 billion. Yandex will list on the NASDAQ under the symbol YNDX starting from May 23, 2011. In light of this IPO, East-West …
MTS, a leading Russian mobile operator and Rostelecom, the Russian national telecommunications operator, are among the Russian companies mulling the acquisition of GNC-Alfa, Armenia’s leading operator of fiber-optic cable infrastructure. Another candidate for the acquisition is France Telecom, Russian business daily Kommersant reported from unnamed sources. The estimated value of the company could be between …
Russian operators compete with France Telecom to acquire Armenia’s GNC-Alfa Read More
MegaFon, a leading Russian mobile operator, has made its phone interpreting service available nationwide. The service, which until now was accessible only from Moscow region, uses a three-way conference call format, enabling a person to speak with another person through an interpreter.
On 18 May 2011 the Presidium of the Supreme Arbitration Court (SAC) issued a decree requiring the domain administrator of the www.mumm.ru site to cease using the domain name. The SAC has ruled that use of the name infringes the exclusive rights of champagne maker G.H. Mumm & Cie to the “Mumm” trademark.
The Skolkovo project, in partnership with Cisco, handed out 5.25 million rubles ($175,000) to three winners of their jointly sponsored Skolkovo Innovation Prize competition. Moscow inventor Evgeny Smetanin, 50, walked away with first prize of 3 million rubles ($100,000) for his project on transforming children’s toys into modular robotic playing devices.
Bloomberg reported yesterday from “a person with direct knowledge of the matter” that Yuri Milner, the Russian businessman who created DST, completed the financing for DST’s new fund, DST Global II, having raised about $1 billion. Alisher Usmanov, who backed DST Global I, said last month he is “just a financial investor” in DST Global …
