Leading Russian consumer lender TCS Group, which operates Russia’s only pure online bank Tinkoff, will invest in the fintech project launched in Europe by two of its managers. As reported by bne IntelliNews, the capitalisation of TCS topped $5 billion in London this week. The bank’s investment case is seen as solid, as it has transformed from credit card …
Russia’s TCS Group ventures into fintech in Europe Read More
Subsidiaries of Russian state technology agency Rostec will start jointly developing equipment for 5G networks, Vedomosti daily reported on February 3 citing representatives of the agency and unnamed industry sources. As reported by bne IntelliNews, the Kremlin chose unpopular frequencies for 5G rollout to drive home-made infrastructure development and could enforce the use of domestically produced servers only. Reportedly GlobalInformService (GIS) …
When Masha Drokova became one of the leaders of ‘Nashi’, a pro-government Russian youth movement, many years ago, who would have guessed her business successes in Silicon Valley would be featured one day in top US publications? Drokova’s first professional experience as a TV host and producer in 2008 prepared her to make a lightning …
From politics, to PR, to venture: How a young Russian woman made her way to Silicon Valley Read More
Some 200 Telegram channels distribute illegal copies of books, accounting for a total audience is 2 million people. This estimate was provided by according to Maxim Ryabyko, Head of the Russian Association of Internet Rights Protection (AZAPI), in an exchange with business daily Vedomosti. Pavel Durov’s instant messenger is now one of the largest sources …
After receiving a $40 million capital injection last year, Russian online video company ivi.ru has plans to go public this year, according to Kommersant. Unnamed industry sources told the business daily last week that the operation could take place on the NASDAQ by the end of this year with JP Morgan Chase underwriting the IPO. The ivi.ru …
Video streaming platform ivi.ru considers NASDAQ IPO this year Read More
Facebook and Twitter have not provided yet the required information about the storage location of the Russian personal data they process, the authorities stated Friday. Roskomnadzor, the Internet and telecom regulator, said Friday the two companies could be forced to pay a fine ranging from 1 million rubles (approximately $16,000) and 6 million rubles ($94,000). …
Facebook, Twitter threatened with fines over data localization law Read More
Over the past few weeks three online delivery startups ceased activities, having failed to turn a profit or demonstrate viable business models. The e-grocery delivery service Golama made the news last year as it completed a $2.3 million round of funding, then agreed with VEB Ventures an additional $7 million capital injection. In mid-January 2020, however, …
Three Russian online delivery startups shut down amid strong market growth Read More
New Industry Ventures, a Russian fund created last year, today announced its first deal. The fund has injected 100 million rubles ($1.6 million at the current exchange rate) in ADL Completions, a startup launched in 2017 to develop technological solutions in multilateral and multi-bore well completion. These solutions allow “side-tracks” to be built onto existing wells, maintaining the flow-rate …
Russian oil tech startup receives $1.6 million from state-supported industry fund Read More
The Russian Federation has a new prime minister, Mikhail Mishustin, previously head of the country’s tax administration. In this position, Mishustin made comments about cryptocurrencies on multiple occasions, crypto news outlet Forklog reminded. Nobody trusted paper money when it was introduced into circulation and it had to be backed with the gold reserves of central …
Russia’s new prime minister has an opinion of cryptocurrencies Read More
On March 19 the Moscow Expocenter will play host to the third edition of Fashion Tech Day, a must-attend conference dedicated to the fashion retail tech and e-commerce industries (see presentation in Russian). This event is co-organized by East-West Digital News and OneWay, a developer of online stores for clothing, footwear and accessories. It enjoys the support …
Meet fashion tech and e-commerce leaders at Fashion Tech Day (Moscow, March 19) Read More
On Wednesday, on the sidelines of the World Economic Forum in Davos, the Russian Direct Investment Fund (RDIF) announced its intention to invest in three big Russian startups. The sovereign wealth fund is teaming up with Baring Vostok, a leading Russian private equity firm, and unnamed funds from the Middle East, to invest in CarPrice. Founded in …
Can a Russian billionaire become a digital leader after making his fortune in steel? “We have several investments related to human needs: education, medicine, traveling and retail. We are thinking of creating an ecosystem based on these assets – a kind of Amazon,” Alexey Mordashov told Bloomberg. “Each of these areas is on the verge of great change,” …
Russian billionaire Alexey Mordashov wants to create “a kind of Amazon” Read More
