U.S. and Russia kick off new innovation working group in Silicon Valley

March 26, 2012

Washington DC – The Innovation Working Group of the U.S.-Russia Bilateral Presidential Commission will hold its first meeting at the headquarters of Cisco, in San Jose, California, on March 27. Co-chaired by U.S. Undersecretary of State for Economic Growth, Energy and the Environment Robert Hormats and Russian Presidential Advisor Arkady Dvorkovich, the group will address cooperation on …

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Leonid Gluzman of Zina.ru: “Up to 80% of first time online purchases are made on couponing websites”

March 26, 2012

Two years after the Groupon fever hit Russia in March 2010, Leonid Gluzman, the founder of daily deal site aggregator Zina.ru, recalls the history of this thriving industry and shares its key figures and trends for the future. This interview is an excerpt from an in-depth research paper on Russian e-commerce that will be released next …

Leonid Gluzman of Zina.ru: “Up to 80% of first time online purchases are made on couponing websites” Read More

Second IT park, new IT village in Tatarstan

March 26, 2012

Russia’s second fastest-growing regional innovation economy in 2011 according to business monitor RBC Daily, is stepping up efforts to assert itself as one of the country’s most business-friendly ecosystems. Less than three years after the regional capital city of Kazan opened IT Park, reportedly eastern Europe’s biggest techno-park, plans are now being laid for a …

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SaaS accounting startup Moe Delo secures $4 million

March 25, 2012

A leading player on Russia’s young but flourishing market of online accounting services, Moe Delo (pronounced ‘Moyo Dyelo’) announced last week it raised $4 million from Klever Internet Investments. The valuation of the company was not disclosed, but Moe Delo’s founders Sergey Panov and Maxim Yaremko kept a controlling stake, according to the press release.

Bravofly claims first successes in Russia “beyond expectations”

March 23, 2012

Taking advantage of the growing demand for online travel services, Bravofly, the European online travel agency that specializes in selling low cost flights, seems to have succeeded in its entry on the Russian market. Already operating in a dozen Western countries, from Italy to Germany to the United States, the agregator of low cost air ticket …

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World’s first glasses free 3D videoconference between London and Russia

March 23, 2012

A live glasses free 3D conference between London and Tomsk, Siberia, was conducted yesterday, combining several British and Russian innovative technologies. The guests of the 3D Storytelling conference, a broadcast and gaming industry event held in London, could see and talk to selected participants in Russia, thousands of miles away in 3D without glasses, “as if …

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DST to launch new $1 billion tech fund

March 22, 2012

Digital Sky Technologies, a Russian investment fund whose global web portfolio includes Airbnb, Facebook, Groupon, Spotify, Twitter, Zalando and Zynga, is seeking $1 billion for a new technology fund, Bloomberg reported yesterday, citing an investor presentation it has obtained. The new fund, DST Global III, will focus on late-stage global Internet companies with a valuation …

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Rostelecom and Tsentralnyi Telegraf to launch MVNOs in the Moscow region

March 22, 2012

Tsentralnyi Telegraf will launch a Mobile Virtual Network Operator (MVNO) next summer, the company’s commercial director Kirill Karasev announced yesterday at an industry conference. Established in 1852 as Moscow’s very first telegraph station, today Tsentralnyi Telegraf is a provider of ISP, IPTV, VPN, and other telecommunication services in Moscow and its surroundings. The new MVNO …

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Western funds Mangrove and Ventech take part in Oktogo.ru’s $10 million round

March 21, 2012

Oktogo.ru, a leading Russian online hotel booking and travel company, officially confirmed yesterday that it has secured a $10 million round of financing. The news was leaked for the first time last month, but Oktogo’s press release has provided details on the operation. VTB Capital, the investment arm of the Russian state controlled financial group VTB …

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Rostelecom building giant data center in Moscow to run government cloud platform

March 21, 2012

Rostelecom, the Russian national telecom operator, has launched the construction of a mega data center, located on the premises of the Serp i Molot factory in Moscow. The center’s storage capacity has not been disclosed, but the server rooms will occupy some 10 thousand square meters – twice as much as Sberbank’s existing mega data …

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KupiVip.ru shareholders to invest $50 million in new online fashion retailer

March 20, 2012

The shareholders of KupiVip.ru, Russia’s leading fashion flash sales site, intend to invest no less than $50 million in Shoptime.ru, an online fashion items and accessories retailer that launched in test mode earlier this year. In contrast to the discounted flash sales model used by KupiVip.ru, this new site offers a permanent assortment of new …

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Russia’s Roman Andreev wins first place and $5,000 in Facebook’s Hackers Cup

March 20, 2012

Facebook’s 2nd annual Hacker Cup competition, held at the company’s headquarters in Menlo Park, California, witnessed 25 of the world’s best hackers gather for an intense competition. Roman Andreev of Russia took top prize by correctly completing a problem in 1 hour and 4 minutes, one minute ahead of the second place winner. Andreev received …

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