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Russian Internet users experiment with social traveling

October 8, 2012

As major online booking sites deploy millions of venture dollars in a fight for leadership, a startup founded just three months ago is bringing a fresh concept to the Russian online travel market. iknow.travel collects, supports and encourages primary social networking among travelers. Users can discover interesting destinations based on the actual traveling experiences and …

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Mark Zuckerberg visits Moscow, tries wooing Russian programmers to California

October 5, 2012

While visiting Russia for the first time earlier this week, Facebook’s founder paid a visit to Prime Minister Dmitry Medvedev after meeting with local IT companies – including search giant Yandex – and technical teams. A high tech aficionado, Medvedev – who served as Russia’s President for four years before becoming Prime Minister last March – personifies …

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Utility services management startup secures $1.2 million from Runa Capital

October 5, 2012

Runa Capital, a Moscow-based fund operating internationally, announced earlier this week that it has invested $1.2 million in Domosite.ru, a Russian startup that develops solutions for utility services management companies. The terms of the deal were not disclosed. Domosite.ru addresses a market of approximately 30 million households in Russia. Its solutions are intended for the …

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Bright Capital funds fotoshkola.net for international expansion

October 4, 2012

Bright Capital, the international venture investment arm of Russian billionaire Mikhail Abyzov, has invested “from $3.5 million to $4 million” in exchange for a minority stake in Fotoshkola.net, RBC Daily reported earlier this week, citing unnamed sources in the venture industry. When contacted by East-West Digital News, however, Bright Capital declined to confirm the figure …

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Aurora invests $1 million in 3D interior design startup

October 4, 2012

Russian venture fund Aurora Venture Capital has invested 30 million rubles, or a little less than $1 million, in Apartama.ru, a Moscow-based online retailer of furniture, house appliances and interior design items. The deal was reported yesterday by Russian news agency RIA Novosti, citing Aurora’s Managing partner Vsevolod Topolyansky. The terms of the transacton were …

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‘Innocence of Muslims’ banned in Russia; YouTube under judicial threat

October 3, 2012

A Moscow court on Monday condemned the film “Innocence of Muslims” as “extremist” – citing  a 2002 law regulating public expression – and has forbidden its dissemination on the territory of the Russian Federation. The court’s decision, which has not yet been announced officially, was revealed on Tuesday by Minister of Communications and Mass Media …

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New certification service aims to make online shopping safer

October 3, 2012

While users’ lack of trust remains a major obstacle to the development of e-commerce in Russia, a notable initiative to certify e-shops was announced last month. Trusted Service (in Russian: “Nadezhnaya Pokupka”), a newly established Russian company, has started certifying the reliability of e-commerce sites. Trusted Service didn’t start from scratch. Having received €500,000 in …

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Skolkovo business school gives international acceleration to Russian startup entrepreneurs

October 1, 2012

As the Moscow startup ecosystem has grown ever more fertile and dynamic, the Skolkovo School of Management has launched Startup Academy, a two-month part-time program combining practical entrepreneurial education with an international acceleration program. Startup Academy is intended for entrepreneurs or corporate managers who feel they need more knowledge to launch or support their companies. …

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Yandex stock play dented Mitt Romney’s credibility

October 1, 2012

Republican US Presidential candidate Mitt Romney, who has been building his foreign policy program around avowedly fault-finding rhetoric regarding Russia, invested last year in Russian natural gas, banking, and IT stocks. According to his 2011 tax return released on September 21, the GOP nominee used some of his earnings from the politician’s former employment at …

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Sitronics launches new 90nm design rule-based chips

October 1, 2012

Sitronics Microelectronics, the largest maker and exporter of microelectronics in Russia and the CIS, has announced the first sales of its new microchips applying the 90-nanometer design rule. The chip is reportedly designed for use in computer system components, with its immediate market seen as Russian companies developing  equipment for aerospace engineering.

Narr8 raises $4 million to animate Russian and US tablets

September 28, 2012

Igor Matsanyuk, a prominent figure in the Russian Internet and online game industry, and now the owner of Imi.vc, a Russian venture capital firm that funds innovative mobile apps, has invested $4 million in Narr8, Russian IT portal CNews.ru reported last week. Founded by former Mail.ru VP Alexander Vashchenko, Narr8 is a producer of comic book-based …

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45nm chips outside Kaliningrad; rollout slated for late fall

September 28, 2012

Russia’s first large-scale production facility of microelectronics components made to the 45-nanometer and smaller design rule will be coming on-line outside Kaliningrad by the end of this fall, news agency RIA Novosti reported earlier this week. Located in the town of Gusev, GS Nanotech Center will require a reported $130 million in investment and is …

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