Completing its initial public offering on the NASDAQ last Friday, Russian payment operator Qiwi raised $212 million by selling 12.5 million class B shares at $17 each. Initially, Qiwi had expected to sell 12 million shares at a price between $16 and $18 apiece. All the shares were offered by selling stockholders. Qiwi is valued …
E-payment operator Qiwi raises $212 million in NASDAQ IPO Read More
Qiwi PLC, owner of Russia’s biggest instant-payment operator, announced that its shareholders were seeking to list 12 million Class B shares (U.S. $16–18 each) in the form of American depositary shares (ADS) on the NASDAQ in May. Overall, the company owns 52 million shares, so the placement of 12 million Class B shares accounts for the …
Around 58 percent of Americans with annual incomes of $25,000 or more are prepared to invest in early-stage startups, according to a U.S. crowdfunding industry study by EarlyIQ, Crowdfund Professional Association, and Crowdfund Capital Advisors. They are prepared to support two or three startups annually, by investing around $2,000 in each. Americans making in excess of $75,000 a …
Russian crowdfunding longs for legislation and trust Read More
Russian payment operator Qiwi filed a registration statement with the U.S. regulator, the SEC (Securities & Exchange Commission) on Wednesday, to raise up to $100 million from an initial public offering. J.P. Morgan and Credit Suisse will act as joint book-running managers in the operation, which could take place before next summer. The number of American …
From Cyprus to New York: Qiwi starts its journey to IPO Read More
After a week of rumors, PayPal confirmed last Friday that the Central Bank of Russia has approved its application to register as a full-fledged payment operator in Russia. Although PayPal considers Russia to offer “one of the biggest growth opportunities” for its development, it has taken no less than three years for the international payment …
After central bank approval, PayPal continues its “journey” to Russia Read More
Yandex.Money, one of Russia’s leading virtual currencies – in Russian: Yandex.Dengi – announced last month a new step toward integrating its electronic currency with bank systems. Users can now replenish their virtual currency accounts using bank cards issued by Russian banks. To add funds to a virtual account, they only need to indicate their bank …
Yandex.Money enables users to replenish virtual wallets from bank accounts Read More
Russia’s leading mobile operators are considering jointly promoting the Near Field Communication (NFC) standards in Russia. To support the effort, the mobile giants envision establishing an alliance similar to such international NFC-focused industry unions as Oscar in the UK or ISIS in the U.S. In an interview with the Russian business daily Vedomosti, Alexander Popovsky, …
Leading Russian mobile operators to pool efforts for NFC promotion Read More
Experts say cyber viruses are no longer a threat only to home networks, but are increasingly being used as dangerous weapons aimed at state networks. In this context, the Russian Ministry of Defense has decided to create a specialized network command to protect the information structures of the Russian state. According to media reports, Russia’s …
Russia’s readiness for mobile commerce and the speed with which its mobile payments market has been developing have been hot topics for discussion of late. While optimists speak of the cell phone becoming an all-purpose payment terminal as a near-term prospect, skeptics point to Russians’ near-total mistrust of cashless transactions, the low accessibility of banking …
From a cash economy to digital payments: Russia at the crossroads Read More
RZD, the Russian state-owned railways monopoly, has just launched a free mobile app offering train schedules and allowing travelers to purchase electronic tickets. A click-to-call function allows users to reach the company’s call center easily. In contrast with the appalling usability of the company’s website, RZD’s mobile app, which we tested, is quite convenient. A few …
Last week Russian President Vladimir Putin signed into law a draft bill supplementing and amending the country’s current visa legislation. The new law grants preferential visa treatment to representatives of large international corporations investing in Russia and of companies participating in two key state-supported programs: Skolkovo, the giant tech hub under completion on the outskirts …
Russia grants international investors preferential visa regime Read More
Smartfin, a provider of mobile payment solutions in Russia, completed its $2 million Series A round of financing in mid-December. The startup, which operates under the brand ‘2can,’ has enjoyed the participation of Almaz Capital and InVenture, two major Russian venture funds, as well as of Cisco VP Bob Agee and other unnamed business angels. …
InVenture and Almaz inject $2 million into Square clone 2can Read More
