The story
Avito was founded in 2007 in Moscow by Swedish entrepreneurs Jonas Nordlander and Filip Engelbert. In 2010, Avito.ru collected a large amount of capital from venture capitalist Northzone Ventures. In 2012, Avito launched in Egypt and Morocco, where in a few months it became those countries' biggest classified ads site.
In 2013, Avito merged with its Russian competitors Slando.ru and OLX.ru to become the Russian market leader for classified ads, and was later purchased by Naspers for $1.2 billion. In January 2019 Naspers has taken full control of Avito after it spent $1.16 billion to buy the 29.1 percent of company.
In February 2021, Avito.ru had around 47 million users.
In October 2021, Federal Antimonopoly Service declined CIAN.ru (realty service, site, and database) purchase by Avito.ru, because the deal could make its market share more than 50%. In summer 2021, CIAN.ru was expected to go to IPO in the USA.
In December 2021, Avito became the most visited classified site in the world.
In October 2022, Naspers signed an agreement to sell 100% of Avito to Ivan Tavrin's Russian company Kismet Capital Group. The deal is valued at $2.4 billion.
From Wikipedia’s article on Avito.ru, shared under CC BY-SA 4.0.4