Central regions | Finance, business | Telecoms, media
Russia’s top classifieds website now valued at nearly $4bn
6 Feb '19
Naspers, a multinational Internet and media group headquartered in Cape Town, South Africa, has taken full control of Avito.ru, Russia’s number one classifieds site, boosting its stake from 70.4% to 99.6%, EWDN reported. The Avito management holds the remaining 0.4%.
The $1.16bn deal valued Avito at $3.85bn, up from $2.7bn in 2015 when Naspers acquired a controlling stake in the company.
“Avito is the leading online classifieds player in Russia and our decision to increase our stake reflects our belief in the long-term prospects of this great business and the Russian Internet market,” Naspers CEO Bob van Dijk said.
Today, Avito claims to publish 400,000 new classifieds every day and process 120 new deals per minute. The number of classifieds on the platform exceeds 48 million.
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