News

Avito.ru secures $75 million from Accel Partners and Baring Vostok

May 2, 2012

Avito.ru, Russia’s leading classifieds site by brand awareness and number of users, announced today that it has received $75 million in new funding from Baring Vostok Private Equity Fund IV and Accel Partners as well as from existing investors Kinnevik and Northzone. The valuation has not been disclosed, but Avito’s press service told East-West Digital …

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Click-and-mortar concepts gain traction among Russian retailers

May 2, 2012

M.Video, a leading consumer electronics retailer, will open a network of outlets in Russian cities of less than 150,000 inhabitants, Telecom Daily reported last week. The limited-surface outlets will extend their restricted on-site assortment through POS electronic terminals that provide local customers with access to the retailer’s full catalog. The first outlet of this type …

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Russian scientists and Samsung engineers offer “adaptative 3D display”

May 2, 2012

Scientists at the Ultra-High-Speed Optoelectronics and Information Processing Lab of the Physics Institute of the Russian Academy of Sciences (FIAN) have joined with engineers from the Samsung Electronics Research Center in Moscow to successfully produce a 3D display that adapts itself to each individual user, FIAN reported last week. The new adaptive system presents multiangle …

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VimpelCom calls off 3-year Vietnam safari

March 14, 2025

Vimpelcom, a leading Russian mobile operator with a broad international presence, announced last week that it would sell its 49% stake in Vietnam’s GTel Mobile, a JV it had set up in mid-2009 with local Global Telecommunications Corporation. Under the terms of the $45 million deal, the Russian telco is relinquishing operational control of GTel …

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Federal Antimonopoly Service initiates proceedings relating to SMS spam

April 30, 2012

The Federal Antimonopoly Service of the Russian Federation for the City of Moscow has initiated proceedings against the furniture company Shatura for distributing advertisements via SMS without users’ consent (SMS spam). During the check, the Antimonopoly Service established that Shatura had violated the article of the Federal Law on Advertising which forbids the distribution of …

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Java application cloud-based hosting platform Jelastic completes $2 million round

April 27, 2012

Earlier this week, the Ukrainian-Russian-American startup Jelastic, which offers a cloud-based hosting platform for Java application developers, announced it has secured an investment of $2 million from Almaz Capital Partners and Foresight Ventures. This ‘Series A’ funding round brings the startup’s total financing to $2.5 million. In December 2010, Jelastic received seed funding from Runa …

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Leading streaming video site Ivi.ru completes deals with Hollywood’s major studios

April 27, 2012

Earlier this week, Ivi.ru, a leading video streaming site, announced it has reached agreements with all relevant copyright owners in Holywood, including 20th Century Fox, Walt Disney, Sony Pictures, Warner Brothers, Paramount Pictures, and Universal. These agreements, which were reported by the Russian news agency RIA Novosti, will allow Ivi.ru to enlarge its video catalog …

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Russian Post and Rostelecom judged “anti-brands of the year”

April 27, 2012

The Russian Post was among the ten companies awarded the title of “Anti-Brand of the year” by Potrebiteli.ru, a non governmental consumer rights initiative,  for the second time in two years. “Judging from the endless flow of complaints, the Post’s work does not leave some things to be desired; it just leaves anything positive to …

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Fast Lane Ventures secures $18 million in a round led by VTB Capital

April 26, 2012

VTB Capital, the venture investment arm of leading Russian state-controlled financial group VTB Group, has led a $18 million investment round in Fast Lane Ventures, a Western style Internet investment company operating in Russia. Investors from Fast Lane’s two previous rounds are also participating in the operation. They include eVenture Capital Partners and “some business …

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Odnoklassniki.ru continues expansion outside Russia

April 25, 2012

By the end of this year, Odnoklassniki.ru, a leading Russian social networking site, will offer localized versions to its Uzbek, Armenian, Georgian and Moldavian audiences. The news was announced yesterday by Alexander Izryadnov, an executive at the Mail.Ru Group, the LSE-listed Russian Internet group that owns the website.

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