Holding period: 2007-2019
Vostok New Ventures exited Avito in January 2019 for USD 540 mln i sales proceeds for its 13.2% shareholding.
Avito is the largest and most liquid online classifieds platform in Russia, and the clear market leader in terms of visitors and ads.
Avito’s firm market-leading position has proven to be a key factor in terms of the potential to reach high profitability similar to that of peers in other countries. Avito is the leading brand and with strong brand awareness throughout Russia. Compared to western countries, Russia still lags behind in terms of low proportion of internet users in relation to the total population.
The market for internet-related services continues to grow in correlation with an increased internet pene- tration. The Russian e-commerce market is also expect- ed to grow with the increasing internet penetration and consumers and businesses migrating online.