E-Commerce

Yandex relaunches e-commerce delivery service aggregator

February 16, 2016

Yandex, the Russian search company behind leading marketplace Yandex.Market, announced yesterday the launch of Yandex.Delivery, a service which aggregates offers from several e-commerce shipment service providers. Yandex.Delivery allows Internet stores to work more easily with several carriers with a unified account and paperwork. E-merchants may install a widget on their site, allowing shoppers to choose the delivery price and …

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Russian taxi firms lobby for restrictions on Internet services

March 2, 2017

Russian taxi companies are seeking the imposition of restrictions on Internet-based taxi providers such as Uber, the Kommersant newspaper reported Monday. Established firms contend that Internet-based dispatchers are deliberately undercutting prices and operating illegally with impunity, according to Kommersant. “Aggregators do not have the same costs as we do: they don’t conduct medical examinations of …

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CarPrice.ru raises $40 million to develop online used car brokerage in Russia and beyond

February 16, 2016

Yesterday CarPrice.ru, a major Russian online broker of used car, announced that it raised $40 million in a Series B funding round – a considerable amount in the context of contraction of the Russian venture market. The round was led by Baring Vostok Private Equity Fund V with the participation of Almaz Capital and other unnamed investors. …

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Russian National Payment System agrees co-badged card issuance with American Express, JCB, Mastercard

October 22, 2015

Over the past few weeks Russian National Payment Card System (NPCS) reached agreements with American Express, Mastercard and Japan’s JCB about the issuance of co-badged cards. Announced in June at the St. Petersburg Economic Forum, the agreement with Mastercard came as the first international co-badged card project for Russia’s young national payment system. Similar agreements were announced in early July with …

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Two Moscow entrepreneurs raise millions of dollars to “uberize” beauty industry in Russia and beyond

July 18, 2015

Inspired by the success of such apps as Gettaxi and Uber, two Moscow entrepreneurs have just launched GetNowBeauty, a mobile app that allows you to call to your home or office a hairdresser, facial aesthetic, hair removal or nail manicure specialist. To develop the service, former bank legal adviser and singer Anna Korona — whose real name …

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RetailCRM raises $600,000 from Edison.VC, eyes international expansion

July 13, 2015

Last month RetailCRM secured $600,000 from Edison.VC, as reported by Russian tech blog Rusbase. This Series A round is intended to accelerate product development and commercial expansion, including in foreign market, the company announced. The RetailCRM platform allows online retailers to personalize, automate and monitor in real time the sales processes and client service. It also …

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Almaz Capital invests in Californian startup MakeTime to “revolutionize US manufacturing”

July 1, 2015

MakeTime Inc., an online platform offering machine capacity for immediate purchase, today announced a $2.65 million Series A round of funding led by Almaz Capital with participation from Kentucky Science & Technology Corporation (KSTC) and MakeTime’s early investors. Almaz contributed “more than $2 million” to the round, the fund’s PR Director Irina Goryacheva told East-West …

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Ulmart confirms IPO plans in 2016, considers private equity deal in late 2015

February 17, 2016

Earlier this month Ulmart, Russia’s leading e-commerce company, announced several new steps towards its planned IPO. JPMorgan and UBS have been appointed to prepare the operation, which may take place in spring next year, according to Ulmart chairman Dmitry Kostygin. The online retailer considers floating 15% of new shares on the London Stock Exchange, Kostygin told …

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JD.com launches Russian site as first step to global expansion

June 29, 2015

Last week JD.com, China’s largest online retailer, launched a Russian version of its platform with the stated goal of conquering a 20% share of the Russian e-commerce market. JD.com’s English version had already been accessible to Russian customers for two years, but with no marketing effort or adapted logistics to serve them. Just a fraction of …

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Booking.com confirms commitment to “important Russian market,” gets prepared to comply with personal data storage law

February 15, 2017

Earlier this month, Booking.com announced that it will comply with Russia’s new law on personal data storage. The global online travel operator will soon transfer all data from the country’s users to a local data center, Russian business daily Kommersant reported. The announcement came after a meeting between Steffen Mueller, Booking.com’s senior manager of infrastructure and …

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Ozon plans grab at Chinese trade in Russia

February 18, 2016

Russian online retailer Ozon will begin hosting merchants from China and Europe this year to tap booming cross-border trade, its chief executive said. Ozon, part owned by the Sistema conglomerate, also plans to make major investments in new warehouses in Russia’s regions to accelerate sales growth, Danny Perekalsky said in an interview at the St. Petersburg International Economic Forum. “We are developing cross-border [trade] and want …

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Amid crisis, key Russian e-commerce players claim continued growth

June 19, 2015

Amid the economic turmoil of this and last year, the Russian online retail market is still appealing in many respects. This consensus emerged from the eDays e-commerce conference, an internationally-oriented event which was held for the second time in Moscow on June 4 and 5. In 2014, the domestic market grew by 35% in nominal …

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