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Naspers’ MIH Allegro To Acquire Slando

Files under: News
Posted by: admin @ 02:16 [3. 10. 11]

The online classifieds business Slando, which is mostly active in Russia and Ukraine, has been acquired by MIH Allegro, part of Naspers of South Africa. Slando was 20% owned by eBay and part of eBay Classifieds Group. MIH Allegro first signed an agreement to acquire Slando in May 2011. Slando was founded by Michael Pennington and Simon Crookall, the founders of Gumtree, the largest classifieds site in Britain with 14 million monthly visitors. The total purchase consideration was $29 million.

Launched in March 2006, Slando has 11 million unique monthly visitors of which 6 million are from Russia and 3 million – from Ukraine. Slando is the 3rd largest general classifieds business in Russia and the leader by revenue as well as the market leader in Ukraine.

Slando.ru faces major competion in Russia from AVITO.ru, OLX.ru (part of Naspers – majority-owned free classifieds network OLX) and IRR.ru, online version of classifieds newspaper Iz Ruk v Ruki (From Hand to Hand) owned by Trader Media East.

In August 2010, Naspers acquired 68% in OLX for $144 million. AVITO.ru was valued $66 million in November 2010 when it raised $26 million from Kinnevik and Northzone.

MIH (Naspers) owns a 29.1% stake in Mail.ru Group in Russia.

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