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Sber could issue blockchain-based digital currency as early as this year

April 28, 2021

Sber, the state-controlled financial and tech giant, could issue its own digital financial asset, ‘Sbercoin,’ as early as this year. The registration of an in-house blockchain platform, developed for this purpose, is pending final approvals from the regulator. Sber’s blockchain platform will be made available not only to the bank, but also to other companies …

Sber could issue blockchain-based digital currency as early as this year Read More

Yandex acquires tip automation startup to offer full-cycle foodtech services

April 28, 2021

Tip automation startups are much-desired in Russia right now, if judging by an acquisition announced by Yandex, just weeks after another one from Alfa-Bank.  The NASDAQ-listed search giant is now the owner of Chaevye Prosto (‘Just Tips’) — a startup founded in 2018 by Evgeny Zagoruyko and his wife, who spent much of the family’s savings to develop the service.  The terms of the …

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Russian mapping major 2GIS acquires Belarusian geo-marketing startup

April 28, 2021

2GIS, a leading mapping service owned by Sber, is in the process of acquiring RocketData, a successful geomarketing startup from Belarus. Founded in 2017, RocketData provides an “easy-to-use platform to manage your company’s business information and user reviews among more than 30 location-based services” — from maps, search engines and directories, to GPS devices, to social networks. RocketData …

Russian mapping major 2GIS acquires Belarusian geo-marketing startup Read More

MTS launches new online video service to get among market leaders

April 27, 2021

Last week MTS, a leading Russian mobile operator, launched a new online video platform for mobile devices and smart TVs, made available in the Google Play and Apple App stores.  Dubbed ‘Kion,’ this video streaming platform “features thousands of films and hundreds of TV channels”. It will also be “the exclusive home for a slate …

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Russia fines Apple $12 million for blocking third-party apps

April 28, 2021

Russia’s antitrust authority has fined Apple $12 million over a case first brought against the Silicon Valley giant by Russian cybersecurity firm Kaspersky. “Apple was found to have abused its dominant position in the distribution of mobile applications on the iOS operating system through a series of actions that led to a competitive advantage for …

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Backed by Baring Vostok, Russian-founded startup targets London’s highly competitive delivery market

May 26, 2021

Russian-speaking tech entrepreneurs and investors are more than ever active abroad — which has been illustrated again in the UK by a grocery delivery and dark store startup called Jiffy. Founded in November 2020, this company aims to deliver fresh products, meals and household essentials “in just 15 minutes” in several districts of the British capital. With products sourced from local …

Backed by Baring Vostok, Russian-founded startup targets London’s highly competitive delivery market Read More

Segezha Group: How a Russian forestry major addresses digitalization and sustainability challenges

March 29, 2024

Segezha Group, a major Russian producer of fiber-based packaging and forestry products, is a global leader in sack paper (#2), paper sacks (#2) and birch plywood (#5). Unlike most of its industry peers, the group is fully vertically integrated and controls its own forests. Operating across several countries, it holds long-term (typically 49 years) leases …

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Russian e-scooter startup raises $16 million to become regional leader

July 19, 2021

An e-scooter startup called Urent has raised 1.2 billion rubles (nearly $16 million at the current exchange rate) in equity funding and loans. The investor pool includes Citimobil, a Russian ride-sharing company, Sber, the state-controlled digital and finance giant, and Sistema SmartTech, a new venture vehicle of the Sistema conglomerate. The latter contributed 200 million rubles …

Russian e-scooter startup raises $16 million to become regional leader Read More

Should Russian banks be scared of SWIFT disconnection?

April 30, 2021

In a meeting with EU foreign ministers, Ukraine’s top diplomat Dmytro Kuleba joined the chorus of voices calling for Russia to be disconnected from SWIFT — the financial messaging network that underpins the global banking system. The proposal — long popular among those who favor slapping hard-hitting sanctions on Russia — has picked up new …

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After successes in Russia and Israel, Yandex prepares to launch express delivery service in Western Europe

April 30, 2021

Yandex, the NASDAQ-listed Russian tech major, is preparing to launch its express e-grocery delivery service in Western Europe — after successful deployment in Russia and Israel.  The first target is France, where Yandex registered a local company earlier this month and started hiring, according to a company spokesman cited by AFP. Initially covering the central districts of Paris, …

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After a new acquisition, Sber wants to become a central player in the Russian digital music market

April 20, 2021

Yesterday Sber, the state-controlled financial and digital giant, announced a binding agreement to fully acquire  Muzlab, a leader in the Russian B2B audio streaming market. The amount of the transaction was not disclosed, but industry publication VC.RU heard it was between 500 million rubles ($6.5 million) and 1 billion rubles ($13 million at the current exchange rate).  Muzlab has developed a …

After a new acquisition, Sber wants to become a central player in the Russian digital music market Read More

Russia probes YouTube for “abusing” dominant position and “biased” content moderation practice

April 20, 2021

Russia has launched a probe against YouTube for “abusing” its dominant position in the market by making “biased” decisions about comment moderation, a government regulator said on Monday. The Federal Anti-Monopoly Service said that YouTube’s rules relating to the suspension or deletion of accounts are “opaque, biased and unpredictable.”  “This leads to sudden blocking and …

Russia probes YouTube for “abusing” dominant position and “biased” content moderation practice Read More

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