Almaz Capital leads $6.5 million for in-game item trading platform DMarket

June 18, 2020

DMarket, a Ukraine-born startup that uses blockchain to build “a user-owned gaming economy,” has just attracted $6.5 million in equity funding. The round was led by Almaz Capital with participation from video game company Xsolla. No details of the deal were disclosed.  Now headquartered in California, DMarket has developed a platform that “enables transparent and secure buying, selling, and …

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After failing to enforce ban, Russia unblocks Telegram

June 18, 2020

Roskomnadzor, the Russian Internet and telecom authority, announced today that it is lifting restrictions on access to Telegram. The regulator cited “Telegram’s readiness to combat terrorism and extremism” and referred to an agreement with the federal prosecutors. Earlier this month, as reported by Meduza, Telegram’s founder Pavel Durov urged the authorities to unblock Telegram and let its …

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Sberbank to acquire leading mapping service 2GIS at $205 million valuation

June 16, 2020

Sberbank, the Russian state-controlled financial and technology giant, is extending its empire to mapping services with the acquisition of a 72% stake in 2GIS. The deal, just announced, valued the company at 14.3 billion rubles ($205 million at the current exchange rate). Its approval by the antimonopoly authorities is expected in the third quarter of this …

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Twitter suspends more than 1,000 Russian accounts for state-backed propaganda

June 14, 2020

Twitter has suspended 1,152 accounts linked to the Russian authorities for carrying out “information operations.” According to he company, the blocked Russian accounts are associated with the media website “Current Policy” (“Aktualnaya Politika”), which is engaged in state-backed political propaganda within Russia. The network of accounts was suspended for “cross-posting and amplifying content in an …

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Yandex fired a taxi driver for refusing an African passenger. Then a campaign defending the driver appeared on Twitter.

November 12, 2020

On June 9, the online ride-sharing service “Yandex.Taxi” fired a driver from Bryansk, who refused to pick up a Black student from Congo. The incident sparked criticism of the Internet company on social media, with the hashtag #яндекскуколд (in English, “Yandex is a cuckold”) becoming a top trending topic on Twitter in Russia. Many users …

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Russian oligarch Mikhail Fridman lost $27 million in Uber investment

November 12, 2020

LetterOne (L1), an international investment group controlled by Russian oligarch Mikhail Fridman, sold its stake in Uber for $173 million in February last year. The transaction was made public in the group’s 2019 financial report, as reported by RBC. LetteOne had purchased this stake for $200 million in 2016, presenting the deal as “strategic investment.” Fridman …

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Backed by top European investors, Russian agritech startup aims to conquer US and EU markets

June 8, 2020

Elevator Ventures, Raiffeisen Bank International’s corporate fund, and Speedinvest, a major Berlin-based VC fund, are backing Russian agritech startup Agro.Club in a $1.5 million seed funding round. Founded in 2018, Agro.Club defines itself as “a mobile platform connecting growers, their suppliers and crop purchasers into a single network.” It says it is building “an efficient …

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RVC head under house arrest: Russian investment world rocked by yet another criminal case

June 8, 2020

Late last week the head of Russian Venture Company (RVC), Alexander Povalko, was arrested then placed by a Moscow court under house arrest for 45 days. The FSB (Federal Security Service) and police officers ransacked his home.  It is the latest high-profile legal case to have rocked the Russian investment world — and market players have been …

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Coronavirus and the rise of the AI economy

June 6, 2020

As the Covid-19 outbreak is having a growing impact on the global economy, countries need new economic growth models, writes Rainer Michael Preiss in his Forbes column. Preiss is a portfolio strategist based in Singapore, covering global macroeconomics and geopolitics with a focus on emerging markets and emerging technologies. While artificial intelligence powered by 5G …

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Reuters: Sberbank prepares to buy large stake in Ozon

June 6, 2020

Sberbank, the state-controlled financial and digital giant, is in talks to buy a large stake in e-commerce major Ozon, Reuters reported yesterday, citing “four sources close to the matter.” A banker told the news agency that “an agreement was nearly ready.” The bank would acquire around 30% of the company after the issuance of additional shares. …

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