For Russian tech firms, Putin’s crackdown ended their global ambitions – Stars and Stripes

When the Kremlin wanted to compete with the West economically and in the contest for skilled workers more than a decade ago, its well-educated officials helped nurture homegrown answers to Google, Facebook and tech-security companies such as Symantec.

The top Russian search engine, Yandex, sold shares on Nasdaq. The big social network VKontakte got a major investment from an oligarch’s company as that firm sold stock, and the antivirus maker Kaspersky Lab expanded rapidly in other countries to become one of the best-known Russian exports.

But the very success of those companies unnerved top bureaucrats, who worried that such thriving Internet businesses would allow a new generation of Russians to glean uncensored information from around the world and to organize political movements beyond the government’s control.

The resulting onslaught of laws, regulations and back-channel demands that the Kremlin imposed has reduced those once-promising tech giants to shadows of what they could…

Read Full Story: https://www.stripes.com/theaters/europe/2022-04-20/russian-tech-firms-putin-crackdown-ends-global-ambitions-5745704.html

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source: https://news.oneseocompany.com/2022/04/20/for-russian-tech-firms-putins-crackdown-ended-their-global-ambitions-stars-and-stripes_2022042018266.html

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