June 19, 2021

Advertise with us
HOME REGIONS Russia & CIS › Sberbank and Yandex complete joint venture deal

Sberbank and Yandex complete joint venture deal

by Stuart Wilson, Tuesday 1 May 2018

Maxim Grishakov, CEO of Yandex.Market
Maxim Grishakov, CEO of Yandex.Market

Sberbank and Yandex have completed the formation of a joint venture based on the Yandex.Market platform in Russia. The companies intend to combine the technological capabilities of Yandex and the infrastructure and technologies of Sberbank to develop a leading B2C e-commerce ecosystem.

The joint venture is valued at approximately US$1 billion and the two partners will own equal stakes in the company. Sberbank invested US$500m in the new joint venture and 10% of the company’s shares will be reserved for future equity awards for management and employees of Yandex.Market. Maxim Grishakov, CEO of Yandex.Market, will head the new joint venture.

The new joint venture will focus on three areas. The first will be the creation of an online marketplace that offers consumers a wide range of products and provides merchants with leading order processing, logistics and delivery services. The marketplace will be responsible for processing orders, servicing clients, and organising the logistics and delivery of goods.

The second area will involve developing cross-border e-commerce. The company will also continue to enhance the Yandex.Market service as a price comparison and product selection platform.

DISTREE Russia 2018

DISTREE Russia has confirmed that Yandex.Market will deliver a GameChanger keynote presentation at this year’s 15th anniversary event, which takes place in Moscow on May 30th to June 1st, 2018. The new GameChangers session is designed to update vendor and channel delegates on the major technology trends and new business models that will drive the evolution of channel ecosystems within Russia. Evgeniy Schepelin, Business Development Director at Yandex.Market, will deliver the presentation.

Print this page  Recommend this article  Reply to this article    Del.icio.us   Digg   Technorati

June, 2021

Advertise with us


Register here

Press Releases

Upload your PR here

Advertise with us