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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Delivery Club raises $4 million from Addventure

October 2, 2012

Moscow-based online food ordering company Delivery Club announced last week it has completed a $4 million second round of financing from its existing investor Addventure, a major Russian venture fund.  The funds  will be invested in regional and global expansion, the startup stated, targeting Central and Eastern European countries. Delivery Club claims it currently processes …

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Crowdfunding platforms make their first steps in Russia

October 3, 2016

Young Russian film makers, musicians, fashion designers, game developers and tech innovators are now offered a new way to raise the early stage financing they need. Several Russian language crowdfunding platforms have been developed lately, allowing would-be creators and entrepreneurs to advertise their projects and secure financing based on Internet users’ micro donations. Backers are …

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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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Internet still ‘partly free’ in Russia but tighter controls seen ahead, Freedom House reports

September 27, 2012

Freedom House, a US-based NGO monitoring the progress or restriction of human freedoms as it perceives them around the globe, has published its most recent Freedom on the Net 2012 report, the third in its series. This edition assesses Internet and digital media in 47 countries over a period spanning January 2011 and May 2012. …

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NFC on the move in Russia; compatible phones and payment systems to fuel traction

September 27, 2012

NFC technology enabled 4.5 billion rubles, or about $138 million, worth of payments in Russia in the first six months of this year, reported i-Free, a developer and publisher of mobile applications and games, in an exchange with Russian news agency RIA Novosti. Svetlana Kostochka, the head of i-Free’s innovation marketing department, explained she expects …

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Anywayanyday seeks to raise $40 million ahead of possible IPO

September 26, 2012

Anywayanyday.com, a popular Russian online retailer of air tickets, has mandated Merrill Lynch to secure a $40 million round of financing, the Russian business daily Kommersant reported yesterday, citing unnamed sources. The new round of financing will allow Anywayanyday to accelerate its development, particularly in foreign markets. The site, which offers an interface in English …

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M2M market up 63% in one year with 3 million SIM card enabled connections

September 26, 2012

Russia’s M2M service market grew a hefty 63% year-to-year by June 2012, from an estimated 1.84 to 3 million SIM card enabled connections, MTS, a leading Russian mobile operator and retailer, has found in a special study. Sharing its results with Russian news agency RIA Novosti, Valeria Kuzmenko, a spokesperson for MTS, said the company, …

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