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22 I Companies & Markets bne March 2021
“We were initially targeting €784,000 euros, but we reached €884.000 within about three hours of the crowdfunding campaign launch”
From a mobile application that only wanted to put landlords in touch with tenants and provide them with digital tools
to facilitate the apartment rental process, Milluu opened
a property management division under pandemic conditions, managing to have apartments and studios totalling €18mn
in the portfolio at the end of 2020.
Through the property management division, Milluu takes over the management of apartments, for which it ensures the risk of non-collection of the rent by
Russia considers its “sovereign internet” options
guaranteeing uninterrupted payments of the rent for the entire contractual period.
Milluu intends to replicate its business model in Warsaw, Poland being the first market after the local one in which the company intends to expand its services. This market, similar to the one in Romania, is a fragmented, unregulated and very little technological, which offers a good opportunity to adapt the property management model of Milluu.
“Milluu managed in a very short period of time, with limited resources, to demonstrate the ability to monetise a new business model in Romania. By raising a new round of funding that we support, it will have the chance to scale in an area where digitisation is in its infancy, with spectacular efficiency opportunities. Milluu can become the property management solution preferred by the educated and above- average income segment in Central and Eastern Europe,” said Radu Stoicoviciu, EGV partner.
Russia considers its “sovereign internet” options
While creating a legal basis for disconnecting from the global internet, the regulations also built a framework for potentially tighter state control over content available online to users
in Russia. The regulations were expected to accelerate the fragmentation of the global internet, introducing control over the internet in Russia based on China's model.
Still, for over a year since the regulations were adopted, Russian officials didn't take any steps or announce plans regarding the implementation of the regulations. Now, based on Medvedev's statements, it's clear that the idea of the sovereign internet is still on the table.
However, Russian authorities apparently realize that running a sovereign internet would be difficult.
"We have to be realistic," Medvedev told Kommersant.
Vladimir Kozlov in Moscow
For quite a while, Russia has entertained the concept of a "sovereign internet," which basically means cutting itself off from the World Wide Web. In early February, Dmitry Medvedev, former president and now deputy head of the security council, confirmed that Russia is still seriously considering this option.
"Key controls [over the global internet] are in the United States," he was quoted as saying by Kommersant. "Therefore, in case of an emergency, [Russia could disconnect from the World Wide Web]. This is why regulations on Russia's segment of the internet were adopted."
In November 2019, Russia adopted regulations that created a legal framework for centralised state management of the internet within Russia's borders – a concept often referred to as "sovereign internet."
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