News

DST backer cautious about investing in Internet companies as prices may have peaked

April 18, 2011

Prominent Russian businessman Alisher Usmanov told Bloomberg that his $500 million acquisition of a 5% stake in Chinese Web retailer 360buy.com in March may have been his last big direct Web investment for some time. In a phone interview with the financial news agency last Friday, Usmanov said, “Investments in Internet companies start to bring …

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Russian toolbar maker Metabar raises $1 million

April 18, 2011

Russian seed and early stage venture fund Runa Capital has invested $1 million in Metabar, a Russian startup allowing websites to customize a toolbar to adhere to their features, news, and other applications. “Our platform allows website owners to transform casual visitors into regular audiences,” said Mikail Ushakov, Metabar’s CEO.

Euroset postpones IPO

April 15, 2011

Russia’s leading mobile retailer Euroset, whose IPO on the LSE was scheduled for this week, decided today to postpone the operation. “Despite increased interest from the investment community in Euroset, we decided to postpone the IPO due to volatile market conditions,” said President Alexander Malis, adding however that the company still expects to realize its strategic …

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Former Russian MP to launch new international Russian-language TV channel

April 15, 2011

Ogoniok, a Russian weekly owned by Kommersant, reported plans to create an international Russian-language TV channel. The project will be managed by Valery Komissarov, a former member of the Russian Duma, who claims to have a background in entertainment television and who announced to the press last month that investors had been found for the project.

Yandex to invest in Russian and foreign startups

April 15, 2011

Yandex, the leading search engine on the Russian-language Internet, announced yesterday the launch of Yandex.Factory, an investment program designed to help startups finance their product, prototype, or project development at the seed, or early, stage.

120 Russian TV companies and content distributors at MIPTV

April 15, 2011

More than 120 Russian broadcasters and content distributors represented Russia at MIPTV, a key industry event for the European content market that took place in Cannes, France, from March 31 to April 4. This year, the show has hosted more than 11,500 participants from 107 countries.

Leading private shopping club KupiVIP.ru completes $55 million funding deal

April 14, 2011

KupiVIP.ru, Russia’s leading online shopping club, announced today the completion of a $55 million Series C funding deal – a record transaction for a Russian ecommerce business. Three new investors participated in the operation: Balderton Capital, Bessemer Venture Partners and Russia Partners.

Russia ranks 77th of 138 countries in IT development

April 14, 2011

Russia ranks 77th of the 138 countries listed in the latest Networked Readiness Index compiled by the World Economic Forum, up three positions from 80th in the index’s 2009 edition. The index is a component of the Global Information Technology Report published annually by the Forum.

Tele2 wins licenses in four new regions; Rostelecom expresses universal ambitions

April 14, 2011

Tele2 Russia emerged as the main winner in four regional tenders for GSM 1800 licenses in the Russian Far East. It has received from telecommunications regulator Roskomnadzor the right to operate in the Kamchatka, Sakhalin, Koryak, and Chukotka regions and will now operate in 41 Russian regions out of 83.

New e-signature law adopted

April 13, 2011

The Russian Duma has adopted a new law on electronic signatures, which will replace the previous one of January 2002. The new law will come into force after signing by the Russian President and official publication.

Operator consortium formed to investigate LTE

April 13, 2011

The consortium appointed several months ago by Russian authorities to investigate the conditions of LTE deployment was finally formed this past Monday, reports Russian business daily Vedomosti.

Online children’s goods retailer Babyboom.ru raises $900,000 from Western funds and angels

April 12, 2011

Babyboom.ru, a Russian children’s goods website, has raised $900,000 from investors including Index Ventures  and Team Europe Ventures as well as from business angels Chamath Palihapitiya, VP of Facebook, Fabrice Grinda, the founder of OLX, Jose Marin, the founder of IG Expansion and James Gutierrez, the founder of Progreso Financiero.

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