Andrew Filev, a geek from St. Petersburg, sells his company for $2.25 billion in Silicon Valley

January 28, 2021

Citrix Systems announced today an agreement to acquire Wrike, a leader in SaaS collaborative work management, for $2.25 billion in cash. Still subject to regulatory approvals, the transaction is expected to close in the first half of this year.  “The transaction unites leading workspace delivery platform with best-in-class SaaS work management solution, ushering in new era of employee productivity. This combination …

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Russian truck giant Kamaz aims to scout startups across the world

January 25, 2021

Kamaz, the Russian truck giant (part of the state-owned Rostec corporation), and Pulsar VC, an established Russian venture firm, announce an international startup scouting partnership focusing on mobility and IoT. The companies said they will “jointly search for new markets in the transport sector and attract investment in start-ups.” They may also consider “creating a …

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Russian Railways IT security issues threaten company employees and passengers

January 22, 2021

On January 13, a hacker dubbed “LMonoceros” posted proof that he broke into the private network of Russian Railways (RZD) and accessed surveillance from cameras at train stations, on railway platforms, along rail tracks, and inside company offices. RZD employees contacted the hacker and together they patched the weakness in the network. This isn’t the …

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As Navalny’s video on “Putin’s palace” breaks records on YouTube, Russian teenagers ignite rebellion on TikTok

January 29, 2021

Just days after Alexey Navalny’s arrest in the Moscow airport and the publication of his killer video on “Putin’s palace,” a digital rebellion is underway in Russia, involving millions of teenagers and elder users of social media. As of Jan. 21, the investigative video on the luxury mansion had broken all records, garnering more than 50 million …

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Russian-American startup secures $3.5 million to address “the most burning needs” of the construction industry

January 21, 2021

TraceAir, a construction software startup with Russian roots, announces the completion of its Series A $3.5 million round. It was led by London-based XTX Ventures with participation from Liquid 2 Ventures, GEM Capital, GPS Ventures, Andrew Filev (CEO Wrike), Metropolis.VC (which invested in a previous round) as well as US construction industry majors Independent Construction and ENGEO. TraceAir has developed a cloud platform to help construction companies …

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Moscow startup receives $4 million from state funds to develop high-tech prostheses

January 20, 2021

Motorica, a Moscow-based high-tech prosthetic startup, has attracted 300 million rubles (some $4 million at the current exchange rate) from two major government funds: the sovereign wealth fund RDIF and the Far-East High Technology Fund. The news was reported yesterday by business publication RBC, which cited exchanges with the Far-East fund’s press service.  Touting itself as “the only company in the world to make …

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Survey: Russian SMEs rapidly shifting to online advertising

January 20, 2021

As digitalization accelerates cross all sectors of the economy, many businesses are putting online marketing and digital advertising at the core of their strategy for customer acquisition and engagement. MTS, Russia’s largest mobile operator and a leading provider of media and digital services, carried out a survey of small and medium enterprises (SMEs) in Russia …

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Yandex invests in Russian DNA testing company

January 19, 2021

Last month, according to media reports, Russian DNA testing company Genotek raised $4 million in a funding round led by Yandex. No information was disclosed about the other investors or the terms of the deal, and Genotek did not answer EWDN’s media inquiries.  The company, founded in 2010, says it partners with “leadings Russian and European research institutes in the field of genetics and …

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Sber said to be in talks with Merlion on major e-commerce acquisition

January 28, 2021

Sber, Russia’s state-controlled financial and tech giant (previously known as Sberbank), is considering the acquisition of Citilink.ru alongside some other assets of the Merlion group. The discussions were reported by business daily Kommersant but not confirmed by the parties.  Selling electronic appliances and a variety of other products, Citilink is among the top Russian e-commerce sites. It was number two …

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Russian e-commerce leader Wildberries launches in Germany

December 7, 2024

Wildberries, the number one Russian e-commerce company, announced yesterday its launch in Germany in the latest stage of its international expansion.  Through a localized interface, German online shoppers can access more than four million products — from fashion items, to electronic and household appliances, to books, to sports items, to cosmetics and more. The Russian company …

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Amid explosive user growth, Telegram considers raising more than $1 billion in debt

January 18, 2021

Telegram now serves more than 500 million active users, its Russian co-founder Pavel Durov announced Tuesday. Twenty-five million new users joined  the platform in the previous 72 hours alone. “We’ve had surges of downloads before, throughout our seven-year history of protecting user privacy, but this time is different,” Durov emphasized. The surge comes as rival platform WhatsApp changed its …

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