According to a news release from the Avito website’s press service, Nassbars paid 100% of Aveto’s shares, or 151 billion rubles, to the Russian investment firm KISMET CAPITAL GROUP.
According to the statement, “Investment Company KISMET CAPITAL announces the conclusion of an agreement to purchase the entire shares of the AVITO advertising platform owned by the Holding Company Nassbars (South Africa), and the value of the deal amounted to 151 billion rubles (2. 5 billion dollars).
The relationship between Aveto and Kismt will be centred on maintaining the platform’s present long-term development strategy. The company will still be run by the senior management group in place at Avito, led by CEO Vladimir Bravedi.
The largest classified ad site in the world is AVITO, which has more than 90 million users a year and up to 122 million active advertising on its platform. There are more than 5,000 individuals working there.
The Kissmet Capital Group is an investment firm that was established in 2016. It has a focus on investments in the technology, media, and communications industry and has a wealth of experience with public subscriptions on global trading platforms.
Origin: Tas.
The Russian ad network “Avito” is purchased by “KISMET CAPITAL” for 151 billion rubles.
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