The Funds’ first investment in telecommunications was made in 1994 in FGI Wireless (which eventually became today’s Vimpelcom, one of Russia’s largest mobile telephony operators). The company was a pioneer in cellular network development in Russia. Since 1994, Baring Vostok funds have invested over $850 million in 30 companies in the internet, software, media, and telecommunications sector.
AVITO.RU

AVITO.RU

Online classifieds service
Location:
Moscow, Russia
Year of initial investments:
2012
Shareholding:
Minority
Exit:
Partial exit in 2015 through trade sale to Naspers

Development Stages:

  • Avito was founded in 2007 by Kontakt East, a holding company owned by Vostok Nafta and Investment AB Kinnevik.
  • The Fund IV invested in Avito in May, 2012, when Avito clearly distanced itself from competitors and became # 1 classifieds player in the Russian market.
  • At the beginning of 2013, Avito acquired #2 and #4 players in the general classifieds segment (Slando and OLX) from Naspers, which also made an investment of $50 million into the company. The transaction established Avito as a dominant player, accelerated the company’s growth and helped to reduce the marketing expenses. As a result, in 2013 Avito became a profitable company.
  • Since then Avito’s traffic has been growing steadily over time, placing the company on the first place across classifieds in all major verticals (auto, real estate, services, general & e-commerce).
  • In 2013, the company also decided to build a separate platform for professional real estate players. Starting development of Domofond only in 2014, Avito has already achieved the leading position across pure real estate players.
  • At the end of 2015, Naspers, Avito’s shareholder since 2013, became controlling shareholder by buying out shares of some other shareholders (including Fund IV) at an equity valuation of Avito equal to $2.7 billion, which turned out to be one of the largest European VC-backed company exits ever.
  • Currently Avito is the leading online classifieds company in Russia (27 million monthly unique visitors on desktop and almost 15 million app downloads) and is on the way to become one of only few classifieds companies globally being #1 player in all major verticals.

Other projects

News

07 November 2016

CFT in TOP-3 in CNews Analytics Rating.

CNews Analytics agency has published its annual review ”IT in Banks and Insurance Companies”, which includes a rating of major bank IT suppliers. The rating was based on the results of the activity of market participants in 2015. Center of Financial Technologies was second in the rating of Russia’s major IT developers.
30 March 2016

Dom.ru is entering into the cellular market.

In partnership with the leading mobile operators in Russia Dom.ru Telecom Operator is launching a pilot project on rendering mobile virtual network services.
13 September 2012

Dom.ru has been acknowledged the fastest Russian federal internet provider.

According to Net Index , Dom.ru telecom operator is the fastest federal internet provider in Russia. The average internet speed that Dom.ru provides to its Subscribers in 42 cities of presence amounts to 35 Mbit/sec., which is more than two times higher than the average internet speed in Russia (about 16 Mbit/sec.).

22 August 2012

Dom.ru offers a new format for services consumption – the HD.

Telecom services operator Dom.ru launches new bundled offers in all the 42 cities of presence, comprising the basic telecom services – high-speed internet, cable and HD TV, and telephony. The key characteristics of the bundles are the utmost speed of internet access (up to 100 Mbit/sec around the clock) and the highest number of HD channels in the basic Dom.ru TV package among digital TV operators (23 channels), which enables the company’s Subscribers to consume high-quality HD content in the most convenient manner – with the help of a TV set or in the internet from any video-supporting mobile device.