Russian e-commerce giant Ozon acquires stake in e-book store

Yesterday Ozon Holdings, one of Russia’s most established e-commerce players, announced that it acquired a stake in LitRes, the leader in Russia’s fast growing — though still embryonic — domestic e-book market. Neither the size of the stake nor the amount of the transaction has been disclosed.

Undeterred by Crimea, Western investors are still in the game for Russian startup deals

Launched in 2008 by Stanford graduates Maxim Faldin and Kamil Kurmakaev, Wikimart had the initial ambition of creating a Russian analog of eBay. Heavily funded by major U.S. investment funds, the startup has now become a major marketplace offering its own products alongside nearly 2 million items from 1,500 third-party merchants.