Yandex.Factory Seed Funding Bears Fruit: SocialMart Launches Social Shopping With Yandex.Market

It's not a given that a leader in search can successfully pivot into other areas like social media -- just ask Google -- but a new service launching in Russia today, from that country's search leader Yandex, shows one route a company with a lot of smarts can take to make sure they remain a central player in the social game. Today sees the launch of SocialMart, a social shopping startup financed by Yandex (through its seed-funding program Yandex.Factory), and powered by Yandex (via Yandex.Market), but is not Yandex itself. Both Yandex and SocialMart are banking on the fact that the rising popularity of ecommerce in Russia is inevitably going to cross over with the equally popular trend of social networking: up to now, those twains have not met, unlike in other markets, where services like Mertado (now part of Groupon), Sneakpeeq, and Fab?have been running away with the "social shopping" banner, picking up users and funding in the process.

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