March 12, 2013

When Nordic success is classifieds

Sorry for the bad pun in the headline, but the Nordic success in online classifieds outside the US is noteworthy. Schibsted's export of the Blocket & Finn model to France (Le Bon Coin) and elsewhere and Jonas Nordlander's and Filip Engelbert's Avito in Russia are growing into sizeable operations.

From an inside baseball perspective, it's worth noting that Avito (backed by among others Kinnevik, Northzone and Accel) merged with two Naspers owned Russian sites (QXL and Slando) and at the same time took a $50 million cash investment from Naspers. The South African media company got in an 18.6 % ownership in Avito.

That Kinnevik and Naspers are doing similar investments in emerging markets isn't news. That they've invested in the same company is.

No comments: