Oslo, 8 October 2020 - Adevinta ASA has signed an agreement for the sale of its online classifieds businesses Avito in Morocco, Tayara in Tunisia and Fincaraíz in Colombia to Frontier Digital Ventures (FDV). All three sites hold leading market positions in their respective geographies.
FDV specialises in developing online classifieds businesses in emerging markets, with a particular focus on real estate and motors verticals and general classifieds websites. These acquisitions will add to FDV’s current portfolio of 12 investments across 18 markets. FDV will offer extensive support to Avito, Tayara and Fincaraíz to accelerate growth and enhance their products and services.
Rolv Erik Ryssdal, CEO Adevinta, said: “These divestments represent another important milestone in the optimisation of our portfolio. We are proud of how our teams in Morocco, Tunisia and Colombia have developed leading market positions by providing quality products and services to their users and customers.
“Although we see great growth potential for Avito, Tayara and Fincaraíz, our strategy is to place enhanced focus on large markets with leading positions. Frontier Digital Ventures is committed to growing these sites to their full potential. I am confident that their expertise in Emerging Markets will support these sites’ continued growth for the benefit of their local markets, users and teams.“
FDV’s Founder and CEO, Shaun Di Gregorio said: “Fincaraíz, Avito and Tayara are all great businesses in highly strategic and attractive markets for FDV. These acquisitions will complement FDV’s existing position in Morocco and accelerate our market entry into Colombia and Tunisia. We are highly supportive of the local management teams at Fincaraíz, Avito and Tayara. We look forward to working with each business to accelerate their growth and help them reach their full potential.”
About Avito, Morocco
Launched by Schibsted in 2012, Avito is the top marketplace in Morocco with leading positions in motors and real estate. The site averages more than 23 million visits every month and 16 thousand new ads per day. Avito offers an exceptional customer experience, and has a strong impact on daily life, the digital industry and the overall economy in Morocco.
About Tayara, Tunisia
Launched by Schibsted in 2012, Adevinta operates three marketplaces in Tunisia. Tayara.tn, is Tunisia’s leading online classifieds site, averaging more than 10 million visits per month and seven thousand new ads per day. The real estate site ImmoExpert focuses on new constructions, and Talents is a strong jobs vertical.
About Fincaraíz, Colombia
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. These acquisitions are in either existing or adjacent markets for FDV and take their portfolio to 15 operating companies across 20 markets. FDV has a proven track record of building and supporting market leading online marketplace businesses.