At the heart of Avito’s success is the unique story of two visionary Swedes – Jonas and Filip – who decided to move to Moscow and turn their classifieds business into one of Europe’s most impressive online properties. The Russian-Swedish team mixes smart execution and grittiness, which allowed them to make it through the 2008 crisis and emerge as the winner in the race to build Russia’s Craigslist. Avito’s hyper-local business spans more than 80 cities in the largest landmass in the world, and today is one of the top-three classifieds sites globally.
With opportunity to further fuel the company’s growth throughout Russia, Accel helped lead a $75 million round of funding in 2012. Accel’s Sonali de Rycker joined the company’s board in early 2012, and the company grew into one of the largest internet marketplaces in the world. In October 2015, Naspers took a majority stake in Avito in a landmark transaction valuing the business at $2.7 billion.