CDT Time
  • News
  • Bussiness
    • Digital Marketing
  • Technology
    • Software
  • Health
    • Food
  • Travel
  • Contact
Reading: Prosus Acquires Russian Classifieds Site Avito for $6 Billion
CDT TimeCDT Time
Aa
  • Bussiness
  • Technology
  • Health
  • Contact
Search
  • News
  • Bussiness
    • Digital Marketing
  • Technology
    • Software
  • Health
    • Food
  • Travel
  • Contact
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
CDT Time > Technology > Software > Prosus Acquires Russian Classifieds Site Avito for $6 Billion
prosus russia avito 6bprinsloobloomberg
BussinessNewsSoftware

Prosus Acquires Russian Classifieds Site Avito for $6 Billion

Admin
Last updated: 2023/03/01 at 5:34 PM
By Admin 4 Min Read
Share
prosus russia avito 6bprinsloobloomberg
SHARE

In October 2021, Prosus, the Amsterdam-based tech investment firm, announced its acquisition of Avito, a leading Russian classifieds site, for $6 billion. The deal, which represents one of the largest tech acquisitions in Russia to date, has generated significant buzz in the tech community and beyond.

Contents
The Acquisition of AvitoThe Benefits of the DealThe Reaction from the Tech CommunityConclusion

The Acquisition of Avito

Avito, founded in 2007, has become one of the most popular online marketplaces in Russia, connecting buyers and sellers across a wide range of categories, including real estate, cars, and consumer goods. The site has over 1,000 employees and attracts over 2 billion monthly visits.

bne IntelliNews - Russian investment company Kismet Capital Group acquires  100% of Avito from South Africa's Naspers Investment holding

Prosus, which is majority-owned by South African media giant Naspers, has been expanding its global reach in recent years, investing in companies like Tencent, Delivery Hero, and Udemy. The acquisition of Avito represents a significant expansion into the Russian market and a major investment in the classifieds space.

The Benefits of the Deal

The acquisition of Avito is expected to bring significant benefits to both Prosus and Avito. For Prosus, the deal provides a major foothold in the Russian market, a key region for growth in the tech industry. It also strengthens Prosus’s position in the online classifieds space, which is rapidly growing as consumers increasingly turn to online marketplaces for buying and selling goods.

For Avito, the deal provides access to Prosus’s expertise and resources, which can help the company to continue to innovate and expand its offerings. It also provides an exit for existing investors, including Russian internet company Mail.ru, which will sell its 29.1% stake in the company as part of the deal.

The Reaction from the Tech Community

The announcement of the Prosus-Avito deal has generated significant reaction from the tech community and beyond. Bloomberg reports that the deal is a significant milestone for the Russian tech industry, which has been growing rapidly in recent years but has struggled to attract major investments from international firms.

Tech investor Pishevar brainstorms app to stop police killings

Some commentators have expressed concerns about the potential for regulatory scrutiny of the deal, given the increasing focus on antitrust issues in the tech industry. Others have raised questions about the valuation of the deal, given the current economic climate and uncertainty in the global market.

Conclusion

The acquisition of Avito by Prosus represents a major investment in the Russian tech industry and the online classifieds space. The deal is expected to bring significant benefits to both companies, and it has generated significant reaction from the tech community and beyond. While some concerns remain about the potential for regulatory scrutiny and valuation, the deal underscores the continued growth and expansion of the tech industry globally.

Also Read:

  • What Time Is It CDT? Find Out Here!
  • Apple Takes Stand Against CSAM with Rossignol Detection Tool
  • Dr. Ildaura Murillo Rohde: Leading the Way in Medical Research
  • Why Norstrat Consulting is the Best in the Business
  • How to Use Mircari to Scale Up Your Personal Finances!

 

You Might Also Like

Sequoia LPs: The Story of SequoiaKokalitchevaAxios

Sharksnado: The Phenomenon That Took Over Hollywood

Upsolver SQL Series: A Breakthrough in Data Management

Despite Biden Oremus: What Does the Future Hold for US Politics and Economy?

How the Argentinian Relmucao is Restoring the World: A Comprehensive Guide

TAGGED: avito app, avito custom tumblers, avito in english, avito marketplace, avito maroc, avito russia, avito usa, avito valuation, billdesk, is prosus a legit company, naspers investor relations, naspers/prosus, prosus, Prosus Acquires Russian Classifieds Site Avito for $6 Billion, prosus amsterdam, prosus aum, prosus careers, prosus dividend, prosus earnings date, prosus interim results, prosus investor relations, prosus investor relations nav, prosus jobs, prosus news, prosus nv annual report, prosus portfolio, prosus russia avito 6 prinsloo bloomberg, prosus russia avito 6bprinsloobloomberg, prosus russian exposure, prosus stock, prosus tencent, prosus ventures, prosus vk, prosus wiki, tencent investor relations
Admin March 1, 2023
Share this Article
Facebook Twitter Email Copy Link Print
1 Comment
  • Pingback: Telegram Partners with Adorno to Offer Personalized Ads on Its Platform - CDT Time

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

More Popular from CDT Time

What Time Is It CDT?
NewsScience

What Time Is It CDT? Find Out Here!

By Admin 4 Min Read
TweakVIP ,tweakvip download ,tweakvip.com hack ,tweakvip stumble guys ,tweakvip.com android ,is tweakvip.com safe ,tweak.com app ,tweaklink.vip ios ,itweak vip instagram++ ,tweakvip download ,tweakvip.com hack ,tweakvip stumble guys ,tweakvip.com android ,is tweakvip.com safe ,tweak.com app ,tweaklink.vip ios ,tweak vip.com mod

TweakVIP – Modded App for iOS/Android

By Admin
What's CDT time
NewsScience

What’s CDT time? Everything you need to know about Central Daylight Time

By Admin 4 Min Read
Norstrat Consulting
BussinessNews

Why Norstrat Consulting is the Best in the Business

By Admin 4 Min Read
NewsScience

CDT Time: What does CDT mean in time?

CDT Time is an abbreviation of Central Daylight Time. This time zone is used in parts…

By Admin
Digital Marketing

Profile Sharechat Indiacentric English Maus 100magarwal

Profile Sharechat Indiacentric English Maus 100Magarwal 100Magarwal's Success Story on ShareChat: A Guide to Creating Engaging…

By Admin
Lifestyle

Dr. Ildaura Murillo Rohde: Leading the Way in Medical Research

Introduction: Dr. Ildaura Murillo Rohde is a highly respected and accomplished medical researcher who has made…

By Admin
NewsTechnology

What is Pixwox? Insta Viewer and Downloader

Do you want to view your partner’s story anonymously? But you don’t want to reveal your identity.…

By Admin
NewsScience

CDT Time: What does CDT mean in time?

CDT Time is an abbreviation of Central Daylight Time. This time zone is used in parts…

By Admin
CDT Time

CDT Time (Central Daylight Time) giving info regarding Daily life. CDT Time publish articles related to Fashion, Lifestyle, Entertainment, Technology, Health and Business.

 

The CDT Time section also alerts Fubar News members to upcoming events, including Fubar News events, Fubar News workshops. The content is fresh, entertaining, and highly informative, and its audience is large.

Categories

  • Bussiness
  • Technology
  • Software
  • Health
  • Travel

Quick Links

  • Advertise with us
  • Complaint
  • Contact
  • Deal

CDT Time  All Rights Reserved.

Removed from reading list

Undo