Last week Oleg Mikheyev, a member of the State Duma (the lower house of the Russian parliament), requested the Prosecutor General to inquire into TripAdvisor, whose website displays Crimea as being a Ukrainian territory. This misrepresentation could be enough to ban the US company from operating in Russia, suggests Mikheyev. “In the present time, all possible …
Megafon, a leading Russian mobile operator, has shut down its mobile payment platform ‘Megafon Money.’ This service will be replaced by Visa Qiwi Wallet — the electronic wallet offered by payment operator Qiwi in partnership with Visa — “with additional specific Megaton features,” Russian business daily Vedomosti reported yesterday. The service has been judged redundant …
China (Shenzhen) International Logistics and Transportation Fair (CILF), a leading expo in Eastern Asia, will be held in Shenzhen, China, on Oct.12-14, 2016, in partnership with East-West Digital News. The event will cover logistics services, SCM, port and shipping, transport, IT solutions, mobility, air cargo, material handling and other related topics. With expected 1,400 exhibitors from over 40 …
International logistics expo to attract more than 100,000 visitors in Shenzhen, China Read More
Last year, amid the crisis that hit hardly some segments of the Russian e-commerce market, KupiVIP Group saw its gross revenue reach 16.5 billion rubles including VAT (approximately $265 million at the average 2015 exchange rate), up 50% in rubles from the previous year. Average market growth reached 16% in rubles (-28% in USD), just …
In 2015, KupiVIP saw its sales revenue increase by 50% and became “fully profitable” Read More
E-commerce Berlin Expo, an international event targeting e-commerce industry players from Western, Central and Eastern Europe, will be held on April 27, 2016 in Berlin, Germany. The fair will gather more than 80 exhibitors from Germany and abroad to highlight the following areas: sales support, IT, law, marketing, TSL/courier services, accounting, consulting. Participation in the …
Last week Tehnosila, a major Russian e-commerce company that sells home electronics and a variety of other products, announced the full acquisition of e96.ru, another major site specializing in consumer electronics and home appliances. The details of the transaction have not been disclosed, but DataInsight analyst Fedor Virin has estimated e96’s value at around 500 million …
Russian e-commerce market consolidates: Tehnosila acquires e96.ru Read More
In 2015, Russia’s domestic online retail market still grew in real terms amid the crisis, says fresh data compiled by East-West Digital News in a new report. Russian e-commerce grew in rubles, reaching some 650 billion (+16%) as far as physical goods were concerned, according to Data Insight, while the inflation rate did not exceed 13%. Given the …
Report: Russian online retail kept growing in 2015 in spite of the economic downturn Read More
E-commerce professionals and analysts, as well as company owners and investors, are invited to attend the “Online retail analytics and business processes” conference, which will be held on March 17 in Moscow. They will discuss and discover new data collection approaches as well as the most efficient ways to interpret and use large amounts of data. No less …
250 retailers to discuss e-commerce analytics and business processes in Moscow (March 17) Read More
Oktogo, a major Russian online travel agency and content portal, has secured $2 million from MCI Management, one the most established private equity group in emerging Europe. The deal was revealed yesterday by Russian business daily Vedomosti based on exchanges with Oktogo’s CEO Marina Kolesnik and an MCI representative. The funds will be used to develop Oktogo’s activities on the domestic …
Polish PE firm injects $2 million in Russian online travel agency Oktogo Read More
East-West Digital News reviews the most important developments on the Russian high-tech scene in 2015. Today’s article covers the evolution of the e-commerce market in both its domestic and cross-border dimensions. The domestic scene With 160 million small packages and parcels sent to online consumers in 2015, up 10% from the previous year, Russia’s domestic online retail …
Earlier this month in its seventh edition, the Gaidar Forum, a yearly conference and elite gathering sometimes dubbed “the Russian Davos,” held a round table about Russian e-commerce in a global perspective. This topic was featured at the forum for the very first time. The discussion was live streamed online as well with some 300 …
Chinese and Russian e-commerce giants discuss cross-border trends at ‘Russian Davos’ Read More
Takeit, a taxi service launched in July last year, is to secure “around $2 million” from several individual investors, including former top executives of Rostaxi and Takeit CEO Alexander Onikienko. The deal was reported last week by Rusbase, an online publication covering the Russian venture market. The young company will measure itself against such market …
Russian taxi service Takeit to receive $2 million investment Read More
