Interfax
Mikhail Komissar stood in a Moscow office during September 1989. He held a fax machine that would become the heart of a new organization. The Soviet Union was changing under Mikhail Gorbachev's perestroika policies. This moment marked the birth of Interfax as the first non-governmental channel for political and economic news about the USSR. The agency used these machines to transmit text across distances where traditional channels failed. By 1990, only one hundred subscribers had signed up for this service. Conservative government officials watched closely and tried to shut down the operation. Their attempts instead brought attention from major western media outlets. Coverage of the August Putsch in 1991 solidified their position during the collapse of the Soviet Union.
Interfax opened its first subsidiary outside the former Soviet Union in Denver, Colorado, during 1991. They named it Interfax America. London-based Interfax Europe Ltd followed in 1992. Frankfurt hosted Interfax Germany GmbH starting in 1993. Hong Kong received the Interfax News Service Ltd in 1998. Local offices expanded rapidly within Russia itself, reaching fifty regions by the mid-1990s. Ukraine got an office in 1992 while Belarus established one in 1993. Kazakhstan opened a branch in 1996. Azerbaijan added another location in 2002. These subsidiaries covered financial markets, metallurgical sectors, oil and gas operations, agriculture, business law, transport, and telecommunications. The agency also introduced the EFiR information system as a market data terminal for stock market players.
The company employed over one thousand staff members across more than seventy bureaus worldwide. They published over three thousand stories each day to serve global audiences. Interfax controls around fifty percent of the Russian corporate data market through these extensive networks. Their holding company comprises more than thirty news producing and marketing companies. These entities operate in Russia, Ukraine, Kazakhstan, Belarus, Azerbaijan, the United Kingdom, the United States, Germany, and China. Subscription-based business and financial intelligence contribute to the bulk of revenues generated by Interfax. IT-analytical business solutions account for approximately seventy-five percent of total revenue streams. This infrastructure supports their ability to distribute information products abroad effectively.
Interfax created the SPARK system in 2004 to check business agents in Russia, Ukraine, and Kazakhstan. The SCAN system launched shortly after to provide media monitoring services. In 2011, they added London-based project Interfax Global Energy which reports on energy markets worldwide. These tools allowed them to offer consumer credit reports via joint ventures with Experian and Sberbank of Russia. Vladimir Gerasimov served as executive director and general director of financial and business information service. Georgy Gulia acted as executive director of general information service. Mikhail Komissar remained chairman of the board and CEO throughout this technological evolution period.
In 1999, Interfax launched a rating agency in partnership with Moody's Investors Service. They provided rating services specifically on the Russian market. SPARK system became the basis for a joint venture with Dun & Bradstreet, a provider of business credit information and credit reports. Also in 1999, Interfax and Reuters signed a cooperation agreement. Since 2001, Interfax has collaborated with Business Wire to distribute corporate regulatory disclosures and press releases. These partnerships expanded their service offerings significantly beyond traditional news reporting. The collaboration with Experian and Sberbank of Russia further diversified their portfolio into consumer credit reports.
In 2015, Interfax was awarded the Runet Prize in the category Culture, Media and Mass Communications by the Russian Federal Agency for Press and Mass Media. They received another Runet Prize in 2016 in the category Economy, Business and Investment. Mikhail Komissar stated during a 2009 interview that his goal was to be number one. This recognition highlighted contributions to both culture and economy sectors within the Russian digital landscape. The awards reflected years of development since the agency's founding in September 1989.
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Common questions
When was Interfax founded and by whom?
Interfax was founded in September 1989 by Mikhail Komissar. The agency began operations using fax machines to transmit political and economic news about the USSR.
Where did Interfax open its first international subsidiary?
Interfax opened its first subsidiary outside the former Soviet Union in Denver, Colorado during 1991. This office was named Interfax America and marked the start of global expansion.
What percentage of revenue does IT-analytical business solutions generate for Interfax?
IT-analytical business solutions account for approximately seventy-five percent of total revenue streams for Interfax. Subscription-based intelligence products secure control over half of the Russian corporate data market.
Which systems did Interfax create to check business agents and monitor media?
Interfax created the SPARK system in 2004 to check business agents in Russia, Ukraine, and Kazakhstan. The SCAN system launched shortly after to provide media monitoring services.
What awards did Interfax receive from the Runet Prize between 2015 and 2016?
In 2015, Interfax was awarded the Runet Prize in the category Culture, Media and Mass Communications by the Russian Federal Agency for Press and Mass Media. They received another Runet Prize in 2016 in the category Economy, Business and Investment.