Yandex is buying its share in Yandex Market from Sberbank and will implement a new strategy for the development of e-commerce services, in particular, the integration of the Market with other services of the company will increase.
At the same time, Yandex sells its remaining stake in Yandex.Money to Sberbank to develop its own fintech services.
All this suggests that in the Yandex Market, buying, selecting and delivering goods will become faster and more convenient for users.
Yandex understands that three options are more important for users today: a huge assortment, reliable and fast delivery, affordable prices, these three areas will become the focus of the development of the e-commerce platform.
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Nuances of the deal with Sberbank.
Yandex buys 45% of Yandex Market from Sberbank for 42 billion rubles, with a total valuation of about 87.3 billion rubles. After closing the transaction, Yandex will consolidate 100% of Yandex.Market.
The monthly turnover of the marketplace is now almost 4 billion rubles a month, every day more than 130 thousand goods are delivered to customers.
The second part of the transaction involves the sale to Sberbank of Yandex’s minority stake in Yandex.Money – 25% plus 1 ruble.Sberbank since 2013 owns 75% minus 1 ruble Yandex.Money, and now will become the sole owner of the company.Yandex will have the opportunity to develop its own financial services.The preliminary amount of sale – 2.4 billion rubles.The final amount will depend on the closing date of the transaction and the exchange rate.
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While Yandex, money will continue to work for users and partners in the usual mode, the service will still be able to log in using Yandex, and Bank cards Money will work until the expiration date, after which they can be reissued, before the end of the year the service will rebrand and change the name.