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

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Sberbank invested 30 billion rubles in Yandex as part of the creation of a joint venture for 60 billion rubles. As the RSC writes, according to German Gref, the new site will have to become a “Russian Amazon”. Work on the signing of the agreement continued throughout the year, and the deal should become the most important for the Russian market. Thanks to the joint venture, a full-fledged trading floor of sizes comparable with large foreign giants will have to develop in the Russian segment of the Internet.


“We have received all necessary permits to complete this deal, and the legal side of the issue is now fully completed, Sberbank “German Gref. “We want to build a Russian Amazon on the basis of Yandex.Market, and I really hope that we will succeed.”

“Yandex.Market” will create new convenient and safe services for users, as well as modern technological solutions for our partners, “added Yandex.Market CEO Maxim Grishakov. The main goal of the project is to turn Yandex's trading floor into one of the largest players in Russian online retail.

“Our Amazon” will have three main areas of work. First: the creation of a full-fledged platform for online trading. In the same place, logistics and customer service will be addressed. Second: the development of the cross-border online trade segment. Third: the development of the existing model of Yandex.Market as a platform for selecting goods and comparing prices continues.

It is rumored that before “Yandex” Sberbank was considering the possibility of cooperation with AliExpress on the same issue. In Yandex, such cooperation was called a threat to the brand and business of the company.


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