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Oslo, Norway, 27 April 2022 - Adevinta has today announced plans to exit Kufar, its classifieds business in Belarus, transferring 100% of Kufar shares to the existing local team. When Adevinta announced its strategy of ‘Growing at Scale’ in November 2021, the company identified Belarus as one of its operations to be placed under review. In light of the recent developments in Ukraine this review has been accelerated, and Adevinta has decided to exit Belarus, while focusing on its five core European markets (Germany, France, Spain, Benelux and Italy).
Founded in 2012, Kufar is a leading classifieds and e-commerce business in Belarus, offering both new and second-hand goods in addition to online credit services for customers. Since its creation, the business has rapidly gained popularity and is now one of the best-known classifieds sites in the country with over 5.8 million active users per month. Kufar was originally part of the Schibsted portfolio, before transferring to Adevinta in 2019.
Rolv Erik Ryssdal, Adevinta CEO, said: “Last year, we announced the launch of a review of several of our businesses, including Kufar, as part of our strategic decision to focus on bolstering market-leading positions in our five core European markets. Kufar is a business with a lot of potential, and we are confident that the company will continue to grow under the leadership of Tanya Lemesheva and her management team.”
Tanya Lemesheva, Kufar CEO, said: “Being part of the team and journey that has witnessed Kufar expand and grow into a profitable business and now a market leader in second-hand online marketplaces in Belarus, with 141 employees, has been a privilege. This exit represents a new chapter for the brand which should initiate further growth and innovation.”
Adevinta is a leading online classifieds specialist, operating digital marketplaces in 15 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from real estate to motors, and consumer goods.
Adevinta’s portfolio spans more than 40 digital brands, covering one billion people and attracting approximately three billion average monthly visits. Leading brands include top-ranked leboncoin in France, Germany's leading classifieds sites mobile.de and eBay Kleinanzeigen, Marktplaats in the Netherlands, fotocasa and InfoJobs in Spain, Subito in Italy, and 50% of fast-growing OLX Brasil. Adevinta employs around 7,500 people committed to supporting users and customers daily. Find out more at Adevinta.com.
Kufar was officially launched in Belarus in 2012. The online classifieds site gained popularity very quickly and is currently the most well known online classified site in the country. Today half of Belarusians who have access to the internet visit Kufar every month. Kufar successfully combines the advantages of classifieds and modern e-commerce, offering both brand new and second-hand goods. Since Summer 2018 Kufar has strengthened its presence in the car and real estate businesses by opening two new vertical products – RE.Kufar.by and Auto.Kufar.by. Currently, Kufar also offers additional services to their customers, including delivery across the country, online credit and pay by instalment plans for used goods.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act