“Sberbank” will do from “Yandex.Market” “Russian Amazon”

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Sberbank has invested 30 billion rubles in “Yandex” in the framework of a joint venture 60 billion rubles. RKB writes with the words of German Gref, the new site will become a “Russian Amazon”. Work on the signing of the agreement continued throughout the year, and the deal should be most important for the Russian market. Thanks to a joint venture in the Russian segment of the Internet will have to evolve a full-fledged trading platform of size comparable to major foreign giants.

“We have received all necessary approvals for this transaction, and the legal side of the issue is now fully completed,” — said the Chairman of the Board of “Sberbank” German Gref. “We want to build on the basis of “Yandex.Market” the Russian Amazon, and hope that we will succeed”.

“Yandex.The market” will create a new convenient and safe services for users, as well as modern technological solutions for our partners”, — said General Director of “Yandex.Market” Maxim Grishakov. The main goal of the project is to transform the trading platform of Yandex, one of the largest players on the Russian online retail market.

“Our Amazon” there will be three main areas of work. First: creating a full-fledged platform for online trading. There’s also the issues of logistics and customer service. Second, the development of cross-border online trade. Third: continued development of the existing model “Yandex.Market” as a site for choice of products and price comparisons.

Rumor has it that to Yandex Sberbank considered the possibility of cooperation with AliExpress on the same matter. In “Yandex” such cooperation was called a threat to the brand and the business of the company.

“Sberbank” will do from “Yandex.Market” “Russian Amazon”
Ilya Hel