All posts in category ipo

Russian Search Engine Wars – Part Deux

Yandex, which owns Russia’s dominant search engine, reported healthy Q1-2014 earnings last week. Earnings per share in Rubles were 22% ahead of Q1-2013, and the company’s market share in search rose to 61.9% in Q1-2014 (the balance of the search market is primarily held by Google, with around a 27% share). It was also a […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

QIWI IPO Analysis

QIWI plc (“Qiwi”) is in the midst of an IPO roadshow and has filed a fairly complete F-1 with the SEC, as it proposes to go public on the NASDAQ. The following are some of the salient points concerning Qiwi’s proposed offering and its underlying business. The transaction The offering is all about providing liquidity […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

Amazon Enters Russia

News is breaking today by Forbes Russia and RIA-Novosti about Amazon’s plan to open a Russian office. Subsequently, posts appeared on TechCrunch and Engadget about the move, but there has been no corroboration by the company. While the rumours about this have been circulating for months, this is the first time concrete details have been […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

Sberbank Buys Control of Yandex.Money

Sberbank, Russia’s dominant bank, has just bought control of Yandex.Money, Russia’s leading e-wallet company offering similar functionality to PayPal. While the value of the deal is relatively small — Sberbank paid $60 million for its 75% stake, which is described as a joint venture — it positions the company as the most formidable competitor in […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

Kayak.com Paddles Into Russia

Fresh off its smallish $91 million IPO on NASDAQ, news is trickling in about Kayak.com’s ambitions in the Russian market. Stories on the web actually started breaking on July 19th, the day before the IPO, after the Quintura blog noted that Kayak.ru is forwarding to Kayak.com and identified the Russia & CIS Managing Director through his LinkedIn profile. This […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

Bricks & Clicks in Russia: Will e5 Erode the Ozon Layer?

This week could prove seminal for Russian online retail. X5 Group, the country’s largest retail group which operates more than 3,000 retail outlets throughout the country, generating more than $15 billion in annual sales, announced the opening of e5.ru: E5’s service offering While X5 is primarily a supermarket chain, its new e5 project offers a […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

E-commerce in China vs. Russia

In an article published this week on Fortune’s website, Maelle Gavet, CEO of Ozon.ru sets out some reasons why the Russian e-commerce market should not be overlooked, and why in some respects it is more attractive than China’s. The article would be better off in the “advertisement placed by my financial PR firm” section of […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

Yandex Reports Market Share Slippage

Perhaps I was too categorical in my earlier post about Yandex’ mastery over Google in the Russian market. On 29 September the Russian search giant, while confirming its earnings outlook, also disclosed negative information about its market share trend, which slipped to 61.4% (MTD as of 26 September) from 63% in the prior month. This […]

About Leighton Peter Prabhu

I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.

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