Futubra, a microblogging service with advanced multimedia, news group and comment functions, is closing down less than a year after its launch in early 2012. The termination announcement on the Futubra website contains no substantial explanation; however, Mail.ru Group CEO Dmitry Grishin had publicly conceded this past July that Futubra’s audience was not meeting expectations.
Last week the Russian and US governments signed an agreement that contains an action plan to protect intellectual property rights. The agreement requires the parties to fight online piracy, close websites hosting litigious content, allocate funds for anti-piracy enforcement measures and coordinate efforts towards these ends. Russia will have to alter its current legislation – particularly …
Skolkovo, the state-sponsored giant tech hub nearing completion on the outskirts of Moscow, has come under sharp criticism over the last several months, suggesting that government policies in support of innovation in the country could be reviewed. Among the first signs of resistance to Skolkovo’s recent development were remarks made this past October by Deputy …
Skolkovo under fire; government innovation policies may be reshaped Read More
GNC-ALFA, a leading Armenian telco owned by the Russian national telecom operator Rostelecom, will enlarge its service offer and operate under its mother company’s brand. Earlier this month the Armenian operator launched Rostelecom-branded landline telephony and broadband Internet sales, and is gearing up for retailing interactive TV services to private customers at a later date.
WebGames, a former game publisher now turned investor in game studios, has taken over Drimmi, a three-year-old Russian developer of games for social networks. The parties have not disclosed the deal’s value, but an anonymous source with knowledge of the transaction leaked to the Russian business daily Vedomosti that it could be in the millions …
WebGames continues buying spree, takes over game developer Drimmi Read More
Scientists at the St. Petersburg National Research University of Information Technologies, Mechanics and Optics (ITMO) and some ethnic Russians from Componentality Oy, a Finnish-based company, have developed unique communications technologies to address transport problems in large urban areas, RusNanoNet.ru reported last week. The joint effort has reportedly resulted in the development of a “smart traffic …
“Smart traffic light” and “smart bus stop” for modern jam-plagued cities Read More
Vladimir Elin, a Russian inventor based in Moscow, has recently patented a futuristic dual-screen smartphone which is controlled by glances and gestures – no touch is required. This unique device is said to be able to monitor and respond to the owner’s eye pupil movements. Users may also make a call by applying a “virtual …
Russia’s “SmartPhone Future”: To talk, just glance at it Read More
Among the growing number of players competing on the Russian furniture and home decor online landscape, The Furnish, a site launched last week, demonstrates some originality. It focuses on the premium segment, claiming to be the first online furniture retailer with this specific positioning, and offering items in various styles, from ‘Country’ to ‘Eco-Style’ and …
New online furniture retailer serves ‘American bourgeois-style’ Russian shoppers Read More
The European Bank for Reconstruction and Development has just issued a 96-page report on the Russian economy. The report takes a detailed look at policies that can help achieve the country’s economic diversification. “Ending [the Russian economy’s] heavy reliance on exports of oil, gas and minerals, [is] a very specific and difficult challenge,” the report …
Last October Germany’s giant startup incubator Rocket Internet invested $10 million in its portfolio company Mebelrama.ru, a Russian online furniture retailer. The transaction was revealed only this past Friday by Mebelrama co-founder Manuella Stoll in an interview with Russian business daily Kommersant. The investment will help Mebelrama enlarge its assortment, move to a new warehouse, …
Mebelrama.ru attracts $10 million from Rocket Internet as competition tightens Read More
Qiwi, a leading Russian payment operator, has picked Credit Suisse and JPMorgan for a New York IPO which it plans for the middle of next year, Reuters learned from “three sources familiar with the matter.” The company plans to float between 25 and 30% of its shares while the IPO would value it at $1 …
Swiss private equity fund Pluribus Optimum announced last week its plan to invest €100 million in e-commerce projects in Russia and neighboring countries by the end of 2015. The fund will focus on improving processing, document flow, billing organization, and payment acceptance in online stores, as well as 3PL logistics. “We have identified e-commerce as …
Swiss fund to invest €100 million in Russian ecommerce infrastructure and services Read More
