March 31, 2015 at 16:56Avito's revenue growth slows
Last year, Avito, Russia's largest advertising platform, showed revenue growth of 79% compared to 2013. For the entire 2014 Avito managed to earn 4.3 billion rubles.
The largest shareholder of the company - the Kinnevik fund, said this in its report on the results of the company for the past reporting period. EBITDA profitability (profit before taxes, depreciation and interest on loans) amounted to 489 million rubles in the last quarter of 2014, the fund did not disclose the company's net profit.
In an interviewRBC’s publication, Raiffeisenbank’s analyst Sergey Libin suggested that Avito’s slowdown could be due to ruble devaluation and, at the same time, strong sales from offline retailers in the previous quarter. Avito’s main profit is generated from banner advertising sales and user payments for ad promotion. Shares of the distribution of profit by channel are not disclosed.
Kinnevik separately noted that in October-December Avito made significant investments in marketing, including an advertising company on TV, its final cost is unknown. After rebranding in the second half of 2014, Avito was divided into several services: Avito. Services "," Avito. Work "," Avito. Auto "and" Avito. Real Estate ”, having redesigned all structures.
At the end of 2014, the entire Avito business was valued by the Kinnevik fund at $ 883 million, based on multiples. Compared to September, the company's value decreased by 7.6% in foreign currency, but increased by 23% in rubles. Avito's other major shareholder, the Vostok Nafta fund, estimated its own 13.7% stake in $ 232 million, which puts the company's total capitalization at $ 1.7 billion.
Kinnevik Fund is Avito's main shareholder with a share of 31.9 percent. Other investors besides Vostok Nafta are Accel Partners, Baring Vostok Capital Partners, Naspers Media Holding. The remaining shares belong to the founders - the Swedes Philip Engelbert and Jonas Nordlander.
Avito - the eighth most popular site in Russia, follows from the TNS Russia report for February 2015. The monthly audience in February reached 25.5 million people, according to Avito reports in the same month, 28 million ads were posted.
The largest shareholder of the company - the Kinnevik fund, said this in its report on the results of the company for the past reporting period. EBITDA profitability (profit before taxes, depreciation and interest on loans) amounted to 489 million rubles in the last quarter of 2014, the fund did not disclose the company's net profit.
In an interviewRBC’s publication, Raiffeisenbank’s analyst Sergey Libin suggested that Avito’s slowdown could be due to ruble devaluation and, at the same time, strong sales from offline retailers in the previous quarter. Avito’s main profit is generated from banner advertising sales and user payments for ad promotion. Shares of the distribution of profit by channel are not disclosed.
Kinnevik separately noted that in October-December Avito made significant investments in marketing, including an advertising company on TV, its final cost is unknown. After rebranding in the second half of 2014, Avito was divided into several services: Avito. Services "," Avito. Work "," Avito. Auto "and" Avito. Real Estate ”, having redesigned all structures.
At the end of 2014, the entire Avito business was valued by the Kinnevik fund at $ 883 million, based on multiples. Compared to September, the company's value decreased by 7.6% in foreign currency, but increased by 23% in rubles. Avito's other major shareholder, the Vostok Nafta fund, estimated its own 13.7% stake in $ 232 million, which puts the company's total capitalization at $ 1.7 billion.
Kinnevik Fund is Avito's main shareholder with a share of 31.9 percent. Other investors besides Vostok Nafta are Accel Partners, Baring Vostok Capital Partners, Naspers Media Holding. The remaining shares belong to the founders - the Swedes Philip Engelbert and Jonas Nordlander.
Avito - the eighth most popular site in Russia, follows from the TNS Russia report for February 2015. The monthly audience in February reached 25.5 million people, according to Avito reports in the same month, 28 million ads were posted.