Over the past five years, Russian software exports have more than doubled, reaching about $7 billion. At the same time, demand for IT companies’ products on the domestic market has been falling. Analysts attribute it to a transformation of the Russian market, with demand shifting from hardware to services.
The boom is over
“Here we must run as fast as we can, just to stay in place. And if you wish to go anywhere, you must run twice as fast as that.” This quote from Lewis Carroll’s “Alice in Wonderland” has become a motto for many Russian IT companies these days.
In his speech to this year’s St. Petersberg International Economic Forum, Alibaba’s President Jack Ma highlighted the role of the internet in changing people’s life and encouraged young Russians to start their own business online.
Telegram, the multi-platform messaging app startup created by Pavel Durov (who previously created and later departed VK, the ‘Russian Facebook’ amid controversy), has released its latest numbers exclusively to TechCrunch.
Russian search engine Yandex said on Tuesday it planned to capitalize on its expertise in data analysis to develop its business beyond Russia which could help to drive its expansion as advertising revenue growth slows.
Nobody likes a monopoly. That’s why many people around the globe dislike Microsoft. Check it yourself on Google. Type in, “Windows sucks,” and you’ll find many angry users who’d love to destroy one the world’s most successful companies.