Finance

Yandex.Market Chairman of the Board Gabriel Naouri: “The Russian market offers huge opportunities and is very open to foreign players”

July 13, 2019

A former top executive of Casino Group, a major French retail group, and advisor to the CEOof Æon Group, Japan’s largest retailer, Gabriel Naouri is Chairman of the Board of Yandex.Market. This Yandex-Sberbank joint venture, agreed in 2017, owns three e-commerce platforms: Yandex Market, a popular e-commerce aggregation and price comparison platform launched in 2002; Beru, an …

Yandex.Market Chairman of the Board Gabriel Naouri: “The Russian market offers huge opportunities and is very open to foreign players” Read More

Sberbank acquires major Russian digital job search service

April 3, 2019

Sberbank, the giant state-controlled financial institution, announced yesterday the full acquisition of digital job search service group Rabota.ru. The terms of the deal – which is expected to be closed in May 2019 – have not been disclosed. Sberbank intends to “create an ambitious player on the market based on the existing company.” While the service …

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Food delivery startup attracts $7.6 million from Mail.Ru Group and top businessmen

November 12, 2020

Instamart, a Moscow-based startup that organizes food deliveries from offline retail outlets, raised 500 million rubles (approximately $7.6 million at the current exchange rate). As reported by VC.RU, the deal, which took place last month, valued the company at 1.8 billion rubles (around $27.5 million). The money was brought in by Mail.Ru Group, Sberbank top …

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Former minister and investor Mikhail Abyzov detained in criminal case in Moscow

April 2, 2019

Former Open Government minister Mikhail Abyzov was detained yesterday in Moscow. A figure of the Russian electricity market, Abyzov was also involved in the venture business in the early 2010s. He is now accused of having embezzled and hidden abroad 4 billion rubles (around $62 million). According to the investigation, Abyzov and his accomplices stole …

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Russia-connected asset manager launches new crypto fund

March 22, 2019

Earlier this month ITI Funds, a buy-side intermediary, advisory and asset management company, announced the launch of a new crypto fund Dubbed ‘ITI Funds Crypto Index Fund,’ the fund focuses on index tracking, covering “30 crypto-assets with the largest market capitalization.” These include Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, ZCash, Stellar, and Ethereum Classic.  “The fund assets must …

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RTP Global injects $2 million in Russian AI call-center automation technology

March 15, 2019

Leonid Boguslavsky’s RTP Global has invested $2 million in Dasha.ai, as reported by Russian business daily Vedomosti, based on exchanges with representatives from both sides. Founded just months ago, this Russian startup is building an AI-powered call-center automation solution that allows companies to “design, test and launch rich, human-level voice conversations.” This will help businesses “automate [their] entire …

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Calvey ends first month in detention, business leaders express concern

March 19, 2019

As U.S. investor Michael Calvey ended his first month in detention on Thursday prominent Russian businessmen told President Vladimir Putin they are concerned the case will put pressure on business.    Russian state prosecutors have charged Calvey, the founder of the Baring Vostok private equity group, with fraud along with three other executives from his fund. Calvey denies …

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Yandex acquires Q&A service TheQuestion

March 18, 2019

Yandex, the NADSDAQ-listed Russian search giant, has acquired online Q&A service TheQuestion with a plan to merge it with an analog in-house service. Neither the amount nor other details of the transaction have been disclosed.  Founded in 2014 by Russian journalist Tonya Samsonova, TheQuestion attracted equity funding from individual investors in 2016. The service has generated …

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Russian-founded web server leader acquired by US company for $670 million

December 17, 2019

Nginx (pronounced “engine-x”), a US-based open source web server publisher with Russian origins, has been acquired by F5, a global leader in multi-cloud application services. The transaction amounted to “approximately $670 million,” the companies announced, for the full acquisition of Nginx. By this acquisition F5 aims to “bridge the divide between NetOps and DevOps with consistent …

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DataSine aims to make the science of “digital mass persuasion” available to marketers

March 11, 2019

A UK-based startup with Eastern European connections is leveraging personality analysis, data analysis and machine learning to make marketing communications even more persuasive. And it has just raised $5.2 million to develop and commercialize its technology further. DataSine’s flagship product, ‘Pomegranate,’ helps businesses “tailor content to resonate with their audience, from the segment level down …

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Meet retailers, experts, startups and investors at Fashion Tech Day (Moscow, May 16)

July 13, 2019

On May 16 the Moscow Technopolis expo center wlll play host to the second edition of Fashion Tech Day, a must-attend international conference dedicated to the fashion retail tech and e-commerce industries (see site in Russian or presentation in English). This event is co-organized by East-West Digital News and the venture fund The Untitled, in partnership …

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Two Moscow online reputation agencies secure $3 million for R&D and M&A purposes

March 8, 2019

Online reputation management agencies Sidorin Lab and Reputation Lab have attracted $3 million in equity funding from a pool of individual investors in exchange for a 30% stake in each company. Among these investors is Anton Alikov, a partner at Switzerland-based Blackfort Capital. The fresh funding will be used for business development and software development purposes. …

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