Awesome! Top 30 Russian IT companies by market value, e-commerce companies rank at the top

In the list, Russian Internet giant Yandex topped the list for the third consecutive year with a market value of US$22.98 billion. It is reported that Yandex's market value in 2020 was US$14.6 billion, and its market value has increased by more than 1.5 times this year.

Yandex is known as the "Google of Russia". Its business is very extensive and can be seen in all aspects of food, clothing, housing and transportation. Its yandex.com is also the most frequently used search engine by Russians.

As a leading Internet company in Russia, Yandex has been involved in the e-commerce industry for a long time . On November 30, 2000, it launched an online shopping aggregator Yandex.Market , where users can compare the prices of the same products in different online stores. In June 2013, Yandex.Market launched the paid recommendation function. In 2016, Yandex.Market became an independent company.

After several years of updates and iterations, Yandex.Market began accepting sellers to settle in at the end of last year , and will give priority to displaying the products of settled sellers rather than the promotional products outside the site. As of January this year, there are 7,300 sellers on Yandex.Market. Although the number is small, its 2% sales commission rate is attracting more and more sellers to settle in.

Yandex Chief Financial Officer Greg Abowski said the company will invest $400-500 million this year to develop its e-commerce business. I guess the Russian e-commerce market will usher in a strong competitor.

The second place is the e-commerce company Wildberries, with a market value of $14.52 billion. Wildberries has always been a leader in the Russian e-commerce market, occupying a large share of the Russian e-commerce market. With a full sprint last year, Wildberries' turnover reached 437.2 billion rubles (about $5.86 billion). Its founder Tatyana Bakalchuk also successfully topped the list of Russia's richest female entrepreneurs.

Ozon, another leading Russian e-commerce company, ranks third with a market value of $10.581 billion. Last year, Ozon's turnover was 194.5 billion rubles (about $2.61 billion). Although its turnover is less than half of Wildberries, its market value has "surged by leaps and bounds" thanks to its successful listing on the Nasdaq in the United States in November last year.

Other e-commerce companies on the list include:

Fifth place: Avito, with a market value of $4.907 billion. Avito is a Russian classified advertising website that displays rental, car, pet or other goods for sale ads. The platform only displays, and transactions are conducted by buyers and sellers in other channels. However, recently, Avito began to accept sellers to settle in, and also supports direct transactions on the platform.

No. 7: Lamoda, with a market value of $2.276 billion. Lamoda is a fashion e-commerce company founded in 2011 and became a member of Global Fashion Group in 2014. Lamoda's strength in the Russian fashion retail market should not be underestimated. Last year, the platform's net sales reached 57.1 billion rubles (about $4.96 billion).

No. 10: AliExpress Russia, with a market value of $1.1 billion. AliExpress Russia is a joint venture between Alibaba Group and Russia's Mail.ru, MegaFon and RDIF. After entering Russia, AliExpress has also been well received by local sellers. As of January this year, the number of Russian sellers on the platform has reached 35,000.

No. 16: Goods, with a market value of $530 million. Goods is an e-commerce platform established by M.Video Group in 2016. Compared with other e-commerce companies in this article, its resume is relatively shallow. Currently, the platform is still in an initial growth stage, with about 8,000 sellers on the platform. However, in January this year, the Russian Federal Bank said it would acquire 85% of its shares. This transaction can be said to be a great boost to the development of Goods.

19th place: KupiVip, with a market value of $318 million. KupiVip is also a fashion e-commerce company that started out as a flash sale with brand discounts and is very popular among the Russian middle class. Consumers can buy famous brand products such as Versace, Prada, and Burberry at a discount of 30%-90%.

Russia

E-commerce