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Sber displays its leadership ambition in the Russian e-commerce space

December 1, 2020

Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), is displaying its ambitions in the field of e-commerce, in spite of several previous unsuccessful attempts. Last week, Sber announced the creation of a dedicated division to run its existing assets in this field. Among these are Sberlogistika and Sbermarket, two services which where …

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Facebook pays $53,000 fine for breaching Russian personal data storage law

December 1, 2020

Facebook has paid a 4 million ruble ($53,000) fine, which was levied in February, for violating Russia’s personal data storage law. Proceedings against the company have been dropped, Russian state-run news agencies reported — without specifying whether or not Facebook now complies with the law. Over the past years the regulator Roskomnadzor requested Facebook and Twitter several …

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Alibaba Group to launch cloud platform in Russia

October 15, 2020

Alibaba Group is preparing to launch in Russia its cloud platform, ‘Alibaba Cloud,’ reports Kommersant. According to the business daily’s sources, Alibaba has occupied more than half of the capacity in the IXcellerate data center, which can accommodate about 1,500 racks. According to another source, Alibaba needs the platform to support its growing businesses in …

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Naspers, Tencent and RDIF buy Mail.Ru’s GDRs and bonds

October 7, 2020

Russian sovereign wealth fund RDIF, China’s Tencent and Prosus (part of the Naspers Group), alongside other major strategic investors, have participated in Mail.Ru’s $600 million offering of global depository receipts (GDRs) and convertible bonds. The LSE-listed company will use the proceeds from the offering to develop, in particular, two joint ventures: O2O, which Mail.Ru launched …

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Mail.ru Group plans to raise $600 million on London Stock Exchange

October 7, 2020

According to an announcement by Mail.ru Group on the London Stock Exchange, the Internet company plans to raise $600 million: $200 million in global depositary receipts (GDRs) to raise capital and $400 million in convertible bonds. Mail.ru Group will use this money to develop and support the business and finance future transactions, especially in areas that have …

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Average order value on AliExpress Russia doubles in 2020

September 23, 2020

AliExpress Russia and Tinkoff Oplata, a merchant acquiring service, took a close look at online orders made through the platform in Russia in 2019–2020. The study is based on the analysis of transaction data from 6.5 million Russian bank cards processed by Tinkoff Payment as well as AliExpress customer data.   During the first eight months of …

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Russian venture market reached record $868 million in 2019

April 16, 2020

DSight, a business intelligence agency focusing on the Russian venture market, has just released the English version of its latest yearly report. Russian venture investments amounted to at least $868 million in 2019 (excluding exits), up 13% year-on-year, says the report. Although this performance remains very modest by international comparison (USA: $136 billion, UK: $14.3 billion, Germany: $6.6 billion), it …

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Russian e-commerce major Ozon secures $150 million from local and US investors

April 5, 2020

Russian e-commerce major Ozon has just announced a $150 million round of financing, consolidating its position among the most well-funded local market players. The money is coming from three investors bringing equal contributions: the Moscow-based private equity firm Baring Vostok Capital Partners, the corporate fund Sistema_VC and a new investor, the US VC firm Princeville Capital.  The deal took the form of a …

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Russian e-commerce leader Wildberries to sell products of self-employed individuals

March 5, 2020

Russia’s largest e-commerce retailer Wildberries intends to sell the produce of self-employed individuals on its platform, Kommersant daily reported on March 2. The products would include artisanal apparel, footwear, accessories, and souvenirs. However, quality control issues could complicate the adoption of such new sellers on the platform, analysts surveyed by the daily believe. Kommersant notes AliExpress is using the …

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Twitter and Facebook fined over Russian personal data storage law

February 14, 2020

Yesterday a Russian court fined Twitter and Facebook 4 million rubles ($62,845) each for their failure to comply with Russia’s personal data storage law. According to the Russian media, the court session was attended neither by the representatives of the two companies nor by those of Roskomadzor, the Internet and telecom regulator, which filed the …

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Facebook, Twitter threatened with fines over data localization law

February 2, 2020

Facebook and Twitter have not provided yet the required information about the storage location of the Russian personal data they process, the authorities stated Friday. Roskomnadzor, the Internet and telecom regulator, said Friday the two companies could be forced to pay a fine ranging from 1 million rubles (approximately $16,000) and 6 million rubles ($94,000). …

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