Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS, and are to merge
14.03.2013 11:45, and are to merge

Russian free classified ads website is to merge with and, reports Avito Holding. The Swedish company has made an agreement with the South-African Internet Holding Naspers. Naspers brings its and  into and puts in $50 million in cash into Avito. As a result it acquires 18,6 percent equity stake in the new entity.


The deal will make Avito the third largest classified site after Craigslist and, according to the Financial Times.


Founded in 2007 by Swedish Jonas Nordlander and Filip Engelbert, Avito generated $30 million in revenue in 2012. attracts 35 million unique users monthly. 300 thousand new items are listed every day on the website. Last year the total sum of sold items on the website reached 20 billion Euro. The estimated new value of the company is $570 million.



Author: Irina Fomina

Tags: IT     

Next Previous

You might also find interesting:

Comment on our site

RSS   twitter      submit

Mercedes-Benz Fashion Week Russia  Concerts  Exhibitions in Moscow  investment  tourism  Russian business  Yury Kosagovsky  Russian scientists  Edgard Zapashny  Reindeer  Moscow State University  Serdyukov  Installations  accident  Khabarovsk  Greenpeace  Russian science  Dobrolyot   Russian Fortresses  Vera Kostyurina  protest rally  Olympics 2012  Russian oil  Vladimir Braginsky  Russian Cinema  Solovki  Samara Region  Kemerovo Region  Melihovo  Russian sport  Gorky Park  education  Russian tourism  Nevsky Avenue  Russian natural reserves  Film Festivals in Russia  Sergey Sobyanin  Prince Vladimir  Ulan Ude  Raven Russia  Moscow  Arctic  poll  St. Petersburg  anniversary  Vladimir Clavijo-Telepnev  Russian economy  Opposition  Russia security services  Russian army 

Travel Blogs
Top Traveling Sites