Mail.Ru Group buys Am.ru – one of the largest sites in Russia for buying and selling cars , as per the Mail.ru report.
The sum of transaction is $10 million and it is expected to be closed in early may.
“Automobile classifieds is one of the largest online markets which is growing steadily thoughout the World” – said Mail.Ru Group’s Chairman of the Board of Directors Dmitry Grishin. According to him, acquisition of Am.ru will create favorable conditions in order to take a larger share of this market. “Am.ru has significant synergy with “Yula”, and we plan to fully integrate the projects,” he added.
The Executive Director of Rambler & Co, Rafael Abramyan believes that the sale of Am.ru that this is a great example of implementing the Rambler & Co investment strategy. “We bought the project (Am.ru) a year and a half ago, invested in building new teams, actively marketing the project on the resources of Rambler & Co and other portals that helped us make the asset more attractive to industry players as a “car classified platform” — he said.
Am.ru team including the founder of the project Oleg Golubtsov, will join Mail.Ru Group.
On Tuesday May 2nd Mail.ru Group announced that it acquires 90% ZakaZaka. In November last year, the group has become a minority shareholder of this project during the purchase transaction of Delivery Club for $100 million (the largest service in the market of food delivery). And in March 2017 Mail.ru Group had increased its share in ZakaZaka to 9.91%. Now Mail.ru Group bought the rest of shares. Internet holding paid $20 million in total for ZakaZaka.