Avito will continue to operate in Russia as an independent business

Avito will be spun off as a separate company from OLX Group,which had previously announced its withdrawal from Russia

The Avito online ad platform is spun off as a separate business from the OLX Group and will continue to operate as an independent Russian business within the perimeter of the Prosus group, follows from the group's statement.

“OLX Group has taken the decision to cease any involvement in its activities in Russia. The separation process is currently underway, which will separate the companies into two independent entities. Avito will operate as an independent Russian company, managed by a local management team and its own board of directors.

This information was confirmed by TASS in Avito. The legal process will take several months. The company will continue to be headed by Vladimir Pravdivy with the current team of top managers, the company said.

Avito is part of the OLX Group, which manages over 20 brands in the classifieds market. The latter belongs to the Prosus group, which is a division of the South African holding Naspers (the holding consolidated Avito in 2019).

It is also the most popular online classifieds platform in Russia, according to App Annie and SimilarWeb. The daily audience of the platform is 22 million people

The company has been operating in Russia for 15 years. The number of active ads on Avito today exceeds 90 million, and the daily audience of the platform is 22 million people.

The Ministry of Finance denied the introduction of a new sales tax on Avito