Startups

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

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 …

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

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

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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Ru-Net invests $17 million in Indian e-commerce

In yet another step in its international expansion, Ru-Net, a major Russian venture fund, has invested $17 million in Freecultr.com and BeStylish.com, two Indian e-commerce companies. The news on the investment in Freecultr – a website that offers its own apparels brands – was initially reported earlier this month by Iamwire, an online publication dedicated …

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LinguaLeo raises $3 million, fulfills “American dream”

LinguaLeo, a Russian startup with a web service that teaches English using popular TV serials, books and contextual dialogues, has just secured $3 million from Runa Capital, a major Moscow-based venture fund. The site now serves 1.5 million registered users, of which 40,000 are paid subscribers, LinguaLeo founder Aynur Abdulnasyrov told East-West Digital News.

Russia’s best startups set to emerge at BIT Contest

BIT Contest, the largest tech contest in Russia and neighboring countries, will hold its finale on June 28 at Digital October, Moscow’s leading tech event organizer and venue. This year, more than 1,000 applications were received from all Russian regions as well as from neighboring Belarus, Kazakhstan and Ukraine. Inspired by the MIT $100K competition, BIT contests …

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Physicians’ portal MirVracha secures $1.4 million from Japanese investors

MirVracha.ru, a major Internet portal for physicians and medical students, has completed its first round of financing, totaling $1.4 million. The round was led by Japanese fund UMJ Russia, which received a majority stake, with the participation of M3 Inc., a Japanese company offering innovative web solutions for medical professionals and the life sciences industry, …

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Dimeres reaches 15 million e-fashion aficionados monthly; nabs €1 million from French investor

Yesterday, Paris-based Olma Invest SAS announced it has invested €1 million in Dimeres, a group of e-commerce and e-marketing companies operating in the field of fashion, in exchange for a 25% stake. Founded in 2011 by French entrepreneurs Maximilien Jacquet and Frédéric Bonelli, Dimeres has adapted successful shopping models from Western markets. Among the Dimeres …

Dimeres reaches 15 million e-fashion aficionados monthly; nabs €1 million from French investor Read More

First Russian cash-back marketplace launches; claims to have raised $60 million

A major player on the Russian e-commerce scene suddenly emerged in late May: a cash-back e-commerce platform called Clickandpay.ru that claims to have raised $60 million to finance just the first stages of its development. After a few months operating in test mode, the site has already enrolled more than 50 e-shops, including  such market …

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

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 …

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