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US-based Veeam halts sales in Russia but seems to still be operating there

At the beginning of March 2022, Veeam, an IT company founded by Russian businessmen and based in the US, publically stated that it condemned the military aggression against Ukraine and put all sales in Russia on pause. But according to AIN.Capital data, the company keeps operating in that market.  

  • Veeam’s CEO Anand Eswaran says in a March 4, 2022 statement that “the acts of aggression against Ukraine are shocking and deeply concerning.” And he says about the help that Veeam is going to offer Ukrainians.
  • Also, the statement makes it clear that Veeam has paused all sales in Russia. 
  • At the same time, the RU-version of Veeam’s site keeps operating, and the Contact Us section shows the Russian offices’ addresses in Saint-Petersburg and Moscow, as well as the Russian telephone numbers: 
Veeam to be continuing to operate there in Russia-2
Screenshot from veeam.com/ru on May 23, 2022
  • And if a user tries to contact the sales department on the Russian site (as well as on the global), they can still choose Russia in the country line, and the Russian phone number format is still available.
Veeam to be continuing to operate there in Russia-3
  • Moreover, according to AIN.Capital, in April 2022, sales managers were reaching out to clients and offering to connect via Whatsapp with a Russian mobile number. Also, the company targets clients from Azerbaijan with the invitations to the June event, sent from Russian managers’ accounts, as can be seen on the screenshot below:
Veeam to be continuing to operate there in Russia-1
Screenshot from one of AIN.Capital readers
  • Before publishing this piece, AIN Capital repeatedly tried to get in touch with Veeam’s management and press office to clarify whether the company has paused its Russian sales, and if not, whether Veeam still is planning to do so. But we have got no response in that regard.

Veeam is a data protection company founded in 2006 by Russian entrepreneurs Andrei Baranov and Ratmir Timashev with the HQ in Switzerland and R&D office in St. Petersburg. In 2020, it was acquired by the US VC fund Insight Partners and now its HQ is located in the US. Veeam employs 4,500 people all over the world, its annual sales volume exceeds $1 billion.

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