Siberia | Finance, business

Sberbank takes over one of Russia’s top cartography services

15 Jun '20
Sberbank, Russia’s largest savings bank, has formally committed to investing in the development of its future new asset, a Russian cartographic service called 2GIS, the Russian business daily RBC reported.

Under terms of the deal, Sberbank and partners are taking over a 75% stake in a company that was just prior to the transaction valued at $204.3m.

In this deal, Sberbank is reported to be pursuing the goal of “expanding its ecosystem.”

Set up back in 2004 in the city of Novosibirsk in Siberia, 2GIS now ranks the sixth most valued company in the Russian-language Internet territory; its current valuation is $320m, according to Forbes Russia. The service claims to have a monthly audience of around 50 million users in 486 cities across 11 countries.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Locations: Novosibirsk

Latest News: Siberia
16 Jun '20 | Technology & innovation
9 Jun '20 | Retail, FMCG | Technology & innovation
 

Feature stories

21 May '20
Russian and Italian researchers have developed a...
5 Apr '20
To extend the service life of medical fabric masks—an...
26 Feb '20
A Russian developer has come up with its own...
Search (News archive - 22071)

World of the Future, World of AI

Luc Jones: A Guide to Doing Business in Russia and the CIS Countries
Why Russians Don't Smile
Advertising
Venture_Russia_2019_eng
Advertising
NATT
Advertising
Marchmont News

Latest News

3 Jul '20
A California-based start-up of Russian origin raised...
2 Jul '20
A Covid-19 vaccine has been unofficially tested on...
30 Jun '20
A Russian Linux-based operating system has been...

Most read stories from last week

3 Jul '20
Russian biophysicists have created a compact device...
3 Jul '20
Piezus LLC, a resident of the Technopolis Moscow SEZ,...
3 Jul '20
A California-based start-up of Russian origin raised...