Adevinta ASA (ADE) - Adevinta further optimises its portfolio by divesting Yapo in Chile
Oslo, 24 February 2021 - Adevinta ASA has sold its online classifieds business Yapo in Chile to Frontier Digital Ventures (FDV). The new owner previously acquired Adevinta’s assets Avito (Morocco), Tayara (Tunisia), and Fincaraíz (Colombia) in October 2020.
Rolv Erik Ryssdal, CEO Adevinta, said: "I am very proud of the work achieved by our team in Chile, building Yapo into a solid leader with strong traffic and growth. Yapo requires additional investment, support and resources to continue this momentum, and I believe that FDV has the expertise and focus to help Yapo reach its full potential. The new owners will be a good fit for Yapo and give the team the support they need to move forward faster.
"We continue to optimise our Global Markets portfolio, allowing for stronger focus on large markets and reduced complexity for the Group going forward."
Shaun Di Gregorio, FDV’s Founder and CEO, said: "Yapo is a great strategic fit for FDV and will complement our existing businesses across South America. We look forward to working with the local management team to accelerate the growth of the business and help them reach their full potential. This transaction follows FDV’s recent acquisition of Fincaraíz, Avito and Tayara in October 2020, continuing the strong working relationship developed between FDV and Adevinta."
Notes to the Editors
Adevinta is a global online classifieds specialist, operating digital marketplaces in 11 countries. The company provides technology-based services to connect buyers with sellers and to facilitate transactions, from job offers to real estate, cars, consumer goods and more. Adevinta’s portfolio spans more than 30 digital products and websites, attracting 1.3 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX Brazil. Adevinta spun off from Schibsted ASA and publicly listed in Oslo, Norway in 2019. Adevinta is majority owned by Schibsted ASA and employs 4,700 people committed to supporting users and customers daily. Find out more at Adevinta.com.
Launched by Schibsted in 2011, today Yapo is Chile's favourite brand for online buying and selling. Almost half of Chile’s population use Yapo to sell or buy something every month, and Yapo are the Chilean leaders in real estate and co-leaders in motors.1
About Frontier Digital Ventures
FDV specialises in operating online classifieds businesses in emerging markets, with a focus on property and automotive verticals and general classifieds websites. This acquisition takes FDV’s portfolio to 16 operating companies across 21 markets in Developing Asia, Latin America and MENA. FDV has a proven track record of building and supporting market leading online marketplace businesses. Find out more at frontierdv.com.
Head of Corporate Communications
T: +33 (0) 6 84 30 52 76
1 Source: SimilarWeb, which ranks websites based on metrics including site visits and average visit duration during January 2021
Subscribe to releases from Globenewswire
Subscribe to all the latest releases from Globenewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Globenewswire
TigerGraph, Inc.8.4.2021 15:01:29 CEST | Press release
TigerGraph’s Graph + AI Summit 2021 to Feature 40+ Sessions, Live Workshops and Speakers from JPMorgan Chase, NewDay, Pinterest, Jaguar Land Rover and More
Agillic A/S7.4.2021 09:01:28 CEST | Press release
Agillic launches a new fast and advanced SMS editor to help clients deliver personalised SMS experiences
TigerGraph, Inc.30.3.2021 15:29:56 CEST | Press release
Technical University of Denmark uses TigerGraph to help find more effective treatments for acute lymphoblastic leukemia
Møns Bank A/S26.3.2021 07:03:33 CET | Pressemeddelelse
Indkaldelse til ekstraordinær generalforsamling 19. april 2021
Sika AG26.3.2021 07:02:09 CET | Press release
SIKA ACQUIRES FLOORING ADHESIVES BUSINESS IN THE USA
Arcadis N.V.26.3.2021 07:01:59 CET | Press release
Arcadis reports transactions under its current share buyback program
Terranet26.3.2021 07:01:48 CET | Press release
Warrants of series (2020:2) TO2 B we subscribed to approximately 94.9 percent and TerraNet Holding AB receives approximately SEK 38.3 million
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom