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(English) Avito acquires controlling stake in used car software publisher

15 января 2020

(English)

Avito, the Russian online classifieds giant  which Naspers acquired in 2015-2019 for nearly $3 billion  has purchased a controlling stake (51%) in Russian software publisher MaxPoster. 

Operating from its Moscow and St. Petersburg offices, this company provides software solutions to estimate the value of used cars, manage classifieds to sell the cars, and support dealers’ other operations. 

The details of the transaction were not disclosed, but Avito told the Russian media that MaxPoster’s current owners will continue managing the company. Avito will exert its influence by appointing new members of the board of directors.

Avito is betting on dealers to drive further growth of Russia’s used car market. Dealers account for 17% of used cars sales, compared with up to 60% in developed countries, said Avito’s car section manager Kirill Votyakov, as reported by VC.RU. 

MaxPoster claims its software estimates the value of a used car “by 44%” more precisely that humans.
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