The Spring of Russian E-commerce - An exclusive global perspectives series

ATM skimming on the rise

By Michael Hartleben, Egorov Puginsky Afanasiev and Partners / May 17, 2012

The number of ATM skimming crimes in Russia shoot up ninefold to 362 in Q1 of 2012 compared to only 40 in Q1 of 2011, reports the Russian Europay Members Association (REMA). Such rapid rise in skimming crimes comes somewhat expected as the numbers for Q4 of 2011 (184) were up by 460% already. This information is based on data provided by the REMA’s 20 largest banks, which control approximately 90% of all 184,000 ATMs in Russia.

ATM skimming is a type of fraud, where a victim’s bank card information is electronically recorded while the victim uses an ATM machine. The collected information is then transferred onto a fake bank card, which is either used by the perpetrator or sold on for profit to a third party.

Global software, games and consumer electronics companies target Russia

By East-West Digital News / May 17, 2012

Digital River, a US-based software company, has just released a survey of 250 companies across Asia, Europe, North America and emerging countries – including Brazil and India – which operate in the software, gaming software and consumer electronics sectors and generate annual global revenues of $250 million or more.

Russia came out on top of the list of countries where such companies are seeking to expand internationally in the next two years. Russia was named by 31% of the respondents, followed by Brazil (24%), China (23%), India (22%), Japan (22%), Germany (21%) and the United Kingdom (16%).

Satellite communications operators Iridium and Thuraya come back to Russia

By East-West Digital News / May 17, 2012 / 2 Comments

Iridium Communications, the global satellite communications company, expects to commence operations soon in Russia, after technical tests are completed and acceptance certificate received from the Russian authorities.

“Our interconnect in Russia is built and 95 percent complete, and we’ll soon be pleased to announce our new start in Russia,” Corporate Communications Director Liz DeCastro told East-West Digital News.

Iridium’s predecessor company, Iridium LLC, already operated in Russia in the 1990s before ceasing business around the world due to a bankruptcy.

Government-sponsored cloud platform offers software, infrastructure and development solutions

By Marchmont News, East-West Digital News / May 16, 2012

Rostelecom, the state-owned telecom operator, has completed phase one of “Project 07,” the national cloud computing platform to be fully put together by 2015 as part of the federal Information Society program.

The platform, launched in beta version in March under the o7.com domain name, offers cloud-based software, infrastructure and development platform services (SaaS, IaaS and PaaS, respectively).

Qualcomm could invest “hundreds of millions of dollars” in Russian tech companies

By East-West Digital News / May 15, 2012 / 1 Comment

Qualcomm, a leading US-based international provider of wireless technology and services – with a particular emphasis on chipsets for smartphones – is ready to invest “hundreds of millions of dollars” in Russian tech companies, Senior VP Anastassia Lauterbach told the Russian business daily Kommersant.

According to its strategic plan adopted in late 2011, Qualcomm will pursue four goals in Russia, said Lauterbach: help operators develop their networks; develop an ecosystem of Internet services; make the smartphone more accessible to the population; and invest in technology and science.

Dating site Flirtic.com launches in Russia

By East-West Digital News / May 15, 2012

Flirtic.com, a dating and matchmaking site that began operating in early 2011, chose Russia as its first step to international expansion beyond its native Estonian market.

A beta version of the service is being launched this week to serve users in Moscow, but Flirtic.com has plans to cover St Petersburg, Kiev, and other Russian-speaking cities later this year, explained Andres Susi, the site’s Executive Director, in an exchange with East-West Digital News.

E-books now 5% of market, but pirates still dominate

Special to East-West Digital News by Oleg Kouzbit in partnership with Marchmont News / May 14, 2012

Russia’s e-book market has been growing at a robust CAGR of 120% over the past three years, swelling from 11 million rubles (just under $370,000) in 2008 to 135 million rubles ($4.5 million) in 2011, Russia’s Federal Press and Mass Communication Agency reports in its overview of the national book market’s progress and trends for this year.

According to the report, the top players in the market are LitRes and IMobilco, controlling an aggregate 74% of the domestic e-book trade. LitRes, the leader with a 54% market share, also boasts the majority ownership of copyright for distributing Russian-language books on the Russian-language Internet.

Fast Lane launches online commercial real estate service

By East-West Digital News / May 14, 2012

Fast Lane Ventures, the Moscow-based serial startup developer, has launched an online service called Kommerstate.ru to help commercial real estate market players lease, purchase and sell properties.

Started last week, the site is the first of its kind in Russia, according to Fast Lane, and is more than a property database: it “converts a user interested in a property into a real business lead.”

Rocket Internet receives $200 million from Russian-American billionaire Len Blavatnik

By East-West Digital News / May 11, 2012 / 1 Comment

Rocket Internet, the Samwer brothers’ famous Berlin incubator, has received a $200 million investment from Access Industries, a US based industrial holding owned by Russian-American billionaire Leonard Blavatnik. The news was reported earlier this week by Berlin-based tech blog VentureVillage.com, which cited unnamed industry sources.

The amount has placed Access Industries second behind Swedish investment company Kinnevik, VentureVillage.com notes. The latter spent a record €300 million on Rocket Internet and its portfolio companies in the last quarter alone.

Russian fund to invest €20 million in French startups as Russian-French tech ties grow

By East-West Digital News / May 09, 2012 / 1 Comment

The Russian high tech fund New Generation Investment (NGI) announced last week that it will launch a €20 million division dedicated to French startups, the French business daily Les Echos reported. “We are focusing on telecoms, web technolgies and tech-oriented media,” said NGI shareholder Leonid Reiman.

France will serve as a testing ground for one of NGI’s most ambitious projects – a VoIP and video conference service that would compete with Skype.

ATM skimming on the rise

Global software, games and consumer electronics companies target Russia

Satellite communications operators Iridium and Thuraya come back to Russia

Government-sponsored cloud platform offers software, infrastructure and development solutions

Qualcomm could invest “hundreds of millions of dollars” in Russian tech companies

Dating site Flirtic.com launches in Russia

E-books now 5% of market, but pirates still dominate

Fast Lane launches online commercial real estate service

Rocket Internet receives $200 million from Russian-American billionaire Len Blavatnik

Russian fund to invest €20 million in French startups as Russian-French tech ties grow

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