News

Yuri Milner takes part in Prismatic’s $15 million Series A funding

December 6, 2012

Yuri Milner, co-founder of the prominent Russian Internet fund DST Global, is among the investors in Prismatic, a San-Francisco based startup that attacks the difficult task of creating personalized news feeds based on users’ interests. Also participating in the Series A funding, which amounts to $15 million, are Jim Breyer and his fund Accel Partners, …

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Far East and Baikal Regional Development Fund to be bumped up by 200 times

December 5, 2012

The Far East and Baikal Regional Development Fund, which was set up a year ago, may be increased considerably, the innovation news portal Venture-News.ru reported last week. Currently, its authorized capital is $15.5 million; but it may soon be boosted to as much as $3 billion or more. The idea came from Russian President Vladimir …

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KupiKupon launches discount search engine

December 4, 2012

KupiKupon, one of Russia’s leading daily deal sites, is launching ‘KupiKupon Poisk,’ a web interface that displays discounts, bonuses and other special offers that have been made available by third parties in a dozen Russian cities. As much as $3 million has already been invested in the project, the company’s General Manager Komil Ruzaev revealed …

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Retailers downsize offline outlets for online sales

December 4, 2012

Eldorado, a leading home appliance and consumer electronics retailer, is planning to open up to 200 small outlets next year for electronic ordering and delivery. As the company’s press service explained to Russian business daily Kommersant, these outlets of less than 100 sq. m. will be deployed in locations not suited for standard hypermarkets – …

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German auction site secures $2.5 million from Russia’s Bright Capital

December 3, 2012

Bright Capital Digital has injected $2.5 million into Auctionata, a German online auction site specializing in antiquarian items. The news was reported by Russian business daily Kommersant, based on an exchange last week with Bright Capital Investment Director Vadim Tarasov. Established in 2011, Auctionata claims to feature “the first live auction in the history of …

German auction site secures $2.5 million from Russia’s Bright Capital Read More

Evernote raises $85 million with “no exit strategy”

December 1, 2012

Evernote, a California-headquatered company founded by a Russian-American team in 2007, has just completed a $85 million round, CEO Phil Libin announced on his blog yesterday. The round was led by London-based AGC Equity Partners/m8 Capital with participation from Valiant Capital Partners and existing investors. Seventy five percent of this money comes in the form of …

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Tricolor affirms leadership on pay TV market, attempts to attract investment from VTB

November 26, 2012

Tricolor TV, Russia’s leading pay TV operator with 8.5 million paid subscribers, claims half a million HDTV subscribers, with optimistic plans to reach 3.9 million subscribers by next year and 7 million by 2015, the Russian tech news portal Digit.ru reported last week. Aiming to become the leading European HD provider, in March of 2012 …

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Russians learn tech monetization in Israeli settlement

November 23, 2012

A group of forty Russian scientists has received a week of on-the-job training in the commercialization of hi tech projects at Israel’s Ariel University, the innovation news portal Venture Business News reported last week. The university, which is located in the Israeli settlement of Ariel in the West Bank, was upgraded just two months ago …

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New seed fund helps startups “change the way cars are sold and serviced”

November 23, 2012

While venture funds are springing up in Moscow, one small fund in particular should not go unnoticed. Established just two months ago, Cloud4Auto focuses specifically on automotive technologies – a unique case in the world, the Chairman of the fund’s Supervisory Board, Innokenty Belotsky, told East West Digital News. “Cars are a very important part …

New seed fund helps startups “change the way cars are sold and serviced” Read More

State-owned fund to complement business angel financing

November 23, 2012

Yesterday, RVC, the state-owned fund of funds dedicated to innovation, announced a new program to complement business angel investment in Russian startups at very early stages. The fund’s co-investment will amount to up to 3 million rubles (approximately $100,000), covering from 25% to 75% of the rounds of funding. Business angels are eligible to submit co-investment …

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Megafon recruits British lord

November 22, 2012

Paul Myners, a former commercial secretary to the UK Treasury, is to join the board of directors of Russian mobile phone company MegaFon. The matter will be discussed at a general meeting of the company. Lord Paul Myners, who was made a life peer and entitled to a seat in the House of Lords in …

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MobiDengi and MasterCard make virtual payment card available to Russian mobile subscribers

November 21, 2012

MobiDengi, a major Russian electronic payment service provider, has teamed up with MasterCard to launch ‘MasterCard*Card2Day,’ a pre-paid virtual card that enables online purchases worldwide. The card is available to any subscriber of Russia’s three main mobile operators: Beeline (a brand of Vimpelcom), Megafon, and MTS. A convenient feature of the MasterCard*Card2Day card is that …

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