News

Richard Branson’s Virgin Connect buys Moscow region broadband triple-play operator

Finance, Internet, Internet access, IT infrastructure, M&A, Moscow, News, Regions & cities / By

Trivon AG, the Switzerland-based company which does business through its subsidiaries under the Virgin Connect brand in Russia, has acquired 75% of  Speedyline, a triple-play operator operating in the Moscow region. Trivon has also got the option for the further purchase of the remaining 25%. The deal was completed in December, but announced only last week. …

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Runa Capital leads $3 million round in US startup LendingRobot

80 Comments / Banking technologies, Finance, International, News, Payment & banking technologies, Startups, Venture / Private equity / By

Earlier this week Seattle-based startup LendingRobot completed a $3 million funding round led by Runa Capital, a venture firm operating globally from its offices in Moscow and San Francisco. Club Italia Investimenti II also participated in the round along with individual investors, but the amount of their respective contributions was not disclosed. An automated investment service for online lending, LendingRobot claims to serve more than …

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US high tech and payment firms blacklist Crimea

72 Comments / Crimea, International, Legal, News, Policy making, Regions & cities / By

Russia’s absorption of the Crimea region in early 2014 continues to be a source of friction between Washington and Moscow. The issue was illustrated recently by several US firms which cut ties with the disputed territory altogether. Due to sanctions placed on the region last year by the US authorities, which include an export ban of …

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Siberian high tech company teams up with Singapore’s HaxAsia to launch local “fund-accelerator”

1 Comment / Finance, Incubators & technoparks, International, News, Regions & cities, Startups, Tomsk, Venture / Private equity / By

Just one year after Russia saw the launch of its first hardware-oriented accelerator, DI Group, a Tomsk, Siberia-based high tech group, has launched a “venture fund-accelerator” targeting startups in the fields of smartphones, electronics, gadgets and Internet projects. The acceleration program of up to six months encompasses the industrial design and the marketing aspects of each …

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Yandex and CTC Media sink to record as Goldman says sell

60 Comments / Capital markets, Finance, Internet, News / By

Yandex NV (YNDX) sank to a record in New York after Goldman Sachs Group Inc. cut the stock to sell, forecasting a 31 percent drop in the Russian Internet company’s earnings this year as a weaker ruble dissuades advertisers from increasing spending. The shares slumped 8.7 percent in New York to $16.41, the lowest since the company’s U.S. …

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Elbrus Capital acquires minority stake in realty classifieds group Cian

187 Comments / Finance, Internet, M&A, News, Online classifieds, Venture / Private equity / By

Elbrus Capital, a major private equity business operating in Russia and neighboring countries, has acquired a minority stake in Cian Group, a major player on the Russian online realty classifieds market. The deal included both the sale of existing shares and a subscription for new shares. The amount of the investment and the size of the …

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Russian e-commerce leader Ulmart reports 50% sales increase in 2014, plans IPO in 2016

1,198 Comments / Capital markets, E-Commerce, Finance, International, Internet, News / By

Ulmart, Russia’s leading e-commerce company, confirmed today its plan to go public next year in a yet-to-be-determined Western stock exchange, the company’s chairman and co-owner Dmitry Kostygin told Russian business daily RBC. Ulmart is thus considering raising $1 billion or more in exchange for 25% of the company’s shares. Advisers for the IPO could be …

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Russia’s media watchdog slaps site with warning over religious cartoon

89 Comments / International, Internet, Legal, Legislation & regulation, News, Online media / By

Russia’s media watchdog has issued a warning to an online news site for publishing a religiously themed caricature that lampooned “one of the faiths,” despite an appeal to avoid such cartoons in the wake of the Charlie Hebdo attack. In line with Russia’s law on extremism, the caricature published by the Respublika news site was seen “to incite various sorts of enmity,” a spokesman for the Roskomnadzor media watchdog, Vadim Ampelonsky, …

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Skolkovo startups fly to India

Events & contests, Incubators & technoparks, International, News, Regions & cities, Skolkovo / By

Following President Vladimir Putin’s visit to New Delhi in December, 15 IT companies from Skolkovo, the international tech hub under completion on the outskirts of Moscow, will travel to India next month, reports the Skolkovo Foundation. The companies will take part in IndiaSoft, a major industry conference and B2B networking event organized every year to bring …

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