Hotel-booking service Ostrovok raises funding from major industry players

Founded in late 2010 Ostrovok.ru, Russian hotel booking service has announced raising an undisclosed amount of funding from investors with online travel industry expertise which might...

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First IPO of outsourcing industry in Eastern Europe: EPAM is going public

Today EPAM, the largest outsourcing company in Eastern Europe which came out of Belarus, has announced the launch of its IPO. The company plans to sell its stock between $16 and $18 per share....

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Thoughts on Russian clones and lousy blogs that bash them

Over the weekend I came across a pretty awful post called “Russia's Top 5 Web Startups Of 2011 Mostly Rip Off U.S.'s” on Read Write Web (#11 tech blog according to Technorati as of today)....

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Team of Romanian Summify gets hired by Twitter

Summify, the social news reader which came out of Romania has been acquired by Twitter today.  Summify delivers top articles recommended or read by one’s friends based on the analysis...

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Hungary’s software development industry: innovation the only option?

Located in the heart of Europe, Hungary is unquestionably a tourist attraction, but given its economic difficulties, is Hungary cut out to be a prime outsourcing destination? We investigate. Hungary...

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What a day for Credo Ventures: investment in Brainient and a launch of Beepl

Czech Credo Ventures scored two posts on TechCrunch yesterday (one of them was mine), announcing an investment in Brainient, a video advertisement technology platform with Romanian...

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What do you get by merging Twitter with Tumblr? Futubra. Launched in Russia today

Today one of Russia’s largest internet companies Mail.ru launched what looks like an open beta of Futubra, the Russian microblogging service and an equivalent of Twitter.  Or Tumblr?...

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