Russian classifieds firm Avito posts 86 percent revenue jump

Russian classified site Avito has posted a huge jump in revenue for 2016.

Avito, one of Russia’s leading real estate classifieds portals, has reported an 86 percent jump in revenues in the second quarter of 2016 compared to the same period last year.

Co-owner of the company, Swedish investment fund Vostok New Ventures, announced revenues had grown to to 2.93 billion rubles. First quarter revenue also grew by 86 percent compared to the fourth quarter of 2015.

The company also reported a 25 percent jump in the number of page views in the second quarter to reach 30 billion. Share views via mobile devices jumped to 56 percent from 44 percent.

Avito.ru was launched in November 2007 and also includes automotive, jobs and services classifieds.

Late last year, the South African media holding company Naspers bought 50.5 percent of Avito, increasing its share to 67.9 percent. At that time the company was valued at $US2.7 billion.

Avito is the parent company of Russian property portal Domofond.ru. Its CEO, Erik Segerborg, has just been announced as a speaker at Property Portal Watch’s Madrid Conference, September 28-30.

Other speakers at the conference include:

Simon Baker, Chairman Property Portal Watch

Charles Pittar, CEO of Juwai.com

Cedric Vandervynckt, Regional MD for Criteo

Simon Bray, CEO Privateproperty.co.za

Georg Chmiel, CEO iProperty group

Nigel Dalton, CIO REA Group

Gabriel Gruber, CEO Properati

Nicolas Tejerina, CEO Navent

Brian Requarth, Chairman VivaReal

Lucas Vargas CEO VivaReal

Lex Groenewegen, CEO, placert.com