Page 119 - RusRPTNov20

9.1.7​ TMT sector news
Yandex​ has acquired 100% of the digital ads platform K50 from the VC fund AddVenture Capital and K50’s management​, a YNDX representative told Kommersant on Friday, 9 October. The value of the transaction was not disclosed. According to Vedomosti, K50 offers services to boost the efficiency of contextual ads and is complementary to YNDX’s own contextual ads platform Yandex.Direct. Some major Russian telecommunications, IT and real estate players use K50’s services. YNDX says the deal will allow K50 to scale its business using YNDX's technologies and infrastructure, while YNDX will be able to help advertisers to use digital channels more efficiently, according to Kommersant. K50 generated c. RUB 120mn in revenue in 2019, according to Vedomosti.
The Russian Federal Service for Supervision of Consumer Protection and Welfare has developed amendments to the consumer rights law that can bind online retailers to provide buyers with different payment methods​, including by cash, the Izvestiya newspaper reports on Monday, citing the draft document.​ T​ ASS​ reported that the regulator suggests identifying unacceptable terms of sale and purchase agreements infringing upon consumer rights and running counter to effective standards, the newspaper says. This refers to cases when various online services do not provide buyers with an option of choosing payments in cash. The Russian Ministry of Economic Development prepared a positive assessment of the regulatory impact for the draft document after its revision. Amendments undergo interdepartmental coordination now, the newspaper says.
X5 Retail Group​ has announced the opening of its first cashierless Pyaterochka​, with fully automated checkout systems. The concept called "nalety" ("on the fly") is located at 2 Velaskesa Boulevard in Moscow. It has 80 sqm of selling space and some 900 products, including a fresh assortment and freshly brewed coffee. Serving hours are from 07:00-00:00. To enter the store, customers must download the "Pyaterochka Fly" app, and log in with their X5 ID, which then generates a QR code that allows customers to enter. The store is also fitted with 24-hour CCTV, while the app offers customer support chat and a specialist hotline. The pilot store uses X5’s proprietary Express Scan technology, which enables Pyaterochka #naletu app users to pay using a bank card, Apple Pay or Google Pay. If they wish to, customers can also pay at a self-service checkout.
Association of internet co’s, RAEK, suggests widening scope of tax move​, RBC reported, saying that the respective suggestions were sent to Prime Minister Mikhail Mishustin and other officials. To remind, the earlier adopted tax maneuver (effective from 2021) suggests lower taxes for Russian IT companies earning 90%+ revenue from software development and sales.
119 ​RUSSIA Country Report​ November 2020 www.intellinews.com