Russian online programming school attracts $10 million to pursue global expansion

February 25, 2021

Algorithmics (Algoritmika in Russia), a leading Russian online school of programming, has attracted $10 million in equity funding. Two major funds have backed the startup: Winter Capital and the Russian Chinese Technology Investment Fund. A previous investment came in 2019, when Mail.ru Group acquired a minority stake in the startup.  Founded in 2016, Algorithmics offers …

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While Central Bank prepares plans for ‘digital ruble,’ Sber considers launching its own cryptocurrency

February 26, 2021

After discussing the launch of the digital ruble with local banks, the country’s financial watchdog says it will present a more detailed concept for the national digital currency by summer. The head of the Central Bank of Russia, Elvira Nabiullina, said detailed feedback from the banking community was received. In an October report, the regulator …

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Dsight presents Russian VC trends for 2020 (online event, Feb. 25)

February 23, 2021

Dsight, with support from CrunchBase, EY, EWDN and other partners, will present its Russia venture report for 2020 and discuss the latest market trends and events. This online event will take place on Thursday, Feb. 23 at 6pm Moscow time (4pm CET). The program covers such topics as: Key venture facts and trends in Russia …

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Clubhouse frenzy hits Russia

February 26, 2021

Trendy social media app Clubhouse is seeing an extraordinary surge of interest among Russians as it launched last week in the country.  The social network saw the audience for its audio-chat service increase 20-fold as big brands and top managers from major companies signed up. The former head of Russia’s financial regulators even appealed for Central Bank Governor …

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French-Russian Forum on Artificial Intelligence (Feb. 26)

February 23, 2021

The first Russian-French Forum on Artificial Intelligence will be held on Feb. 26, 2021 by videoconference. This event is intended for French and Russian-speaking audiences. Its program is available in French language through this link. Representatives of the business community, research institutes, higher educational institutions, as well as government circles from the two countries will …

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Russian opposition finds refuge in bitcoin

February 19, 2021

As the value of Bitcoin soared this year, bringing cryptocurrencies back into the global spotlight, Russia’s opposition leader Alexei Navalny saw his team’s crypto wallet fatten.   Public blockchain data shows that a Bitcoin address tied to Navalny received 3.5 Bitcoin ($120,000) at the end of January as supporters rushed to donate to the Kremlin critic …

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Two months after its $1.2 billion IPO, Ozon prepares to issue $750 million worth of convertible bonds

February 19, 2021

Russian e-commerce major Ozon is to offer bonds worth $750 million (aggregate principal amount). These bonds will be issued “on or around Feb. 24, 2021,” with further listing on “an internationally recognized, regularly operating stock exchange.”  The company provided the following details on the offer: These are senior unsecured convertible bonds, which will be convertible into American Depositary …

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Tinkoff launches online-offline payment service

February 18, 2021

Russia’s digital banking leader Tinkoff announced today the launch of an online and offline payment service for legal entities. Dubbed ‘Tinkoff Checkout,’ the service will operate “as a one-stop shop [for] companies to take care of all of their online and offline financial needs in one place.” The service will allow businesses to accept online payments, provide …

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Fashion and e-commerce leaders discuss market, tech and sustainability at Moscow event (March 2)

March 10, 2021

The 4th edition of Fashion Tech Day, Russia’s leading conference on fashion retail tech and e-commerce, will be held in an offline and offline format in Moscow Expocenter. More than 2,000 participants are expected, including hundreds attending the physical event. Co-organized by East-West Digital News, the event will involve a variety of fashion brands, retailers …

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Local merchants now generate 25% of AliExpress Russia’s business

February 17, 2021

AliExpress Russia has just disclosed a series of interesting activity indicators — from audience, to sourcing, to logistics — confirming its leadership on the cross-border e-commerce segment and a growing traction on the domestic segment.  By the end of 2020, the platform’s monthly audience reached some 29.1 million users (8.8 million daily). The platform does particularly …

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Russian WiFi marketing startup makes first steps in US market

February 16, 2021

Moscow-based IT company Hot-WiFi has announced its entry on the US market. The Russian startup offers businesses a guest WiFi hotspot network with marketing functions and data analytics services. This approach may increase the turnover of a coffee shop, for example, by 10% as shown by a business case in Moscow. Founded in 2012, Hot-WiFi has …

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