Changing the guard: South African holding bought a majority stake in Avito for $ 1.2 billion
South African holding Naspers has acquired a controlling stake in Avito . Today, the holding has increased its share from 17.4% to 67.6%, having repurchased shares from other owners for $ 1.2 billion. Avito is one of the largest online ad services in Russia. The company's valuation after the transaction increased from $ 883 million to $ 2.7 billion.
Naspers first invested in Avito back in 2013. Since then, Avito's business has improved dramatically: ad service has become a leader in categories such as general goods, cars, real estate, vacancies and services. To date, Avito is gaining about 35 million unique users per month. The number of monthly page views of the service increased to 8.6 billion. Avito is one of the top ten Russian sites in terms of traffic. Today, more than 50% of the service traffic comes from mobile devices. Last year, this figure did not exceed 32%.
In 2014, the company's revenue reached $ 76.5 million, which is 76% more than in the previous year. EBITDA was 50.6%.
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The deal will strengthen Naspers' position in the global online ad market. Holding management believes in Avito long-term prospects. There are grounds for this, since the adjacent e-commerce market in Russia is also actively developing.
CEO and co-founder of Avito Philip Engelbert said that he fully supports the strategy of partners, their attitude to business and management style. He also agrees with the managers of Naspers on Avito long-term development plans, the holding said in a press release.
Previously, the main asset of Naspers, in Russia, was 29% in Mail.ru Group. In addition, acquired 100% of the English Slando Ltd for $ 29 million in 2011. A year earlier, the South African media holding invested, according to TechCrunch, $ 20–40 million in American OLX Inc. operating in Russia, Spain, Portugal, India, Mexico and South America.
Avito.ru was launched in 2007 and became famous for its ability to attract investments, Kommersant wrote . Thus, in 2010, the Scandinavian investment fund Northzone and the Swedish investment company KInnevik, one of the founders of the resource, invested $ 25 million in it, thus valuing the entire Avito.ru at $ 66 million. In 2011, another $ 16 million investment was made in the service, and Avito.ru was already valued at $ 159 million. In 2012, $ 75 million of Baring Vostok Private Equity Fund IV and Accel Partners invested in the resource. As a result, the cost of the site has reached $ 300 million.
Naspers first invested in Avito back in 2013. Since then, Avito's business has improved dramatically: ad service has become a leader in categories such as general goods, cars, real estate, vacancies and services. To date, Avito is gaining about 35 million unique users per month. The number of monthly page views of the service increased to 8.6 billion. Avito is one of the top ten Russian sites in terms of traffic. Today, more than 50% of the service traffic comes from mobile devices. Last year, this figure did not exceed 32%.
In 2014, the company's revenue reached $ 76.5 million, which is 76% more than in the previous year. EBITDA was 50.6%.
')
The deal will strengthen Naspers' position in the global online ad market. Holding management believes in Avito long-term prospects. There are grounds for this, since the adjacent e-commerce market in Russia is also actively developing.
CEO and co-founder of Avito Philip Engelbert said that he fully supports the strategy of partners, their attitude to business and management style. He also agrees with the managers of Naspers on Avito long-term development plans, the holding said in a press release.
Previously, the main asset of Naspers, in Russia, was 29% in Mail.ru Group. In addition, acquired 100% of the English Slando Ltd for $ 29 million in 2011. A year earlier, the South African media holding invested, according to TechCrunch, $ 20–40 million in American OLX Inc. operating in Russia, Spain, Portugal, India, Mexico and South America.
Avito.ru was launched in 2007 and became famous for its ability to attract investments, Kommersant wrote . Thus, in 2010, the Scandinavian investment fund Northzone and the Swedish investment company KInnevik, one of the founders of the resource, invested $ 25 million in it, thus valuing the entire Avito.ru at $ 66 million. In 2011, another $ 16 million investment was made in the service, and Avito.ru was already valued at $ 159 million. In 2012, $ 75 million of Baring Vostok Private Equity Fund IV and Accel Partners invested in the resource. As a result, the cost of the site has reached $ 300 million.
Source: https://habr.com/ru/post/295650/
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