• N 7 May 2013

    VKontakte revenue down, visits soar

    VKontakte revenue down, visits soar

    Russia's leading social network VKontakte saw a dramatic 94.5% net profit drop in 2012, according to the annual report of the company's major shareholder, Mail.ru Group. VK's gross revenue grew by over 44% to 4.47 bn. rubles (roughly $144 m), as its net profit dropped to 30.5 million rubles.

  • N 6 May 2013

    Qiwi raises $244.4 m at IPO

    Qiwi raises $244.4 m at IPO

    Russian instant payment operator Qiwi has raised $244.4 million at NASDAQ initial public offering. The IPO consisted of 12.5 million American depositary shares at $17 a piece. As result of the offering, investors estimated Qiwi at $884 m.

  • N 6 May 2013

    More smartphones then regular phones sold in Q1

    More smartphones then regular phones sold in Q1

    For the first time in Russia, sales of smartphones exceeded those of regular mobile phones in the first quarter of 2013, RIA Novosti reports, citing a research from IDC. The study says our of the total 418.6 million mobile phones sold, smartphone accounted for slightly more than a half (216.2 m).

  • N 26 April 2013

    Yandex reports 79% Q1 2013 benefit growth

    Yandex reports 79% Q1 2013 benefit growth

    Yandex net income in the first quarter of 2013 grew by 79% compared to the previous year, reaching 2.2 bn rubles ($70.2m), according to the company's quarterly report. The results exceeded all forecasts, as analysts had predicted Yandex benefits to add 51%.

  • N 25 April 2013

    Yuri Milner revealed as German business incubator's major investor

    Yuri Milner revealed as German business incubator's major investor

    A presentation from Rocket Internet, a German business incubator, reveals Yuri Milner as one of the company's principal investors. The presentation, found by the German Manager Magazine, was made for future investors, and lists Rocket Internet's current shareholders. The entrepreneur is best known as co-founder of Russia's Mail.Ru Group digital empire.

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