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October 2019 www.intellinews.com I Page 20
RUB2bn expected this year and RUB7-8bn in 2021.
Mail.ru was launched the classifieds service Yula in 2015 and started actively monetising it in 2017. The largest competitor of Yula in the car segment is Avito, which posted revenues of RUB15.5bn in 2017, up by 32%.
In 2018 South African Naspers consolidated a 100% stake in Avito by buying 29% for $1.16bn, since then not disclosing the financials.
Yula remains loss-making and the investor presentation cited by Alfa did not specify when the service expects to make profit. Alfa expects negative Ebitda of RUB2bn in 2019, swinging to positive no sooner than 2022.
The turnover of the online classifieds in Russia reached RUB33bn in 2018 and could reach RUB35bn in 2023, according to the estimates by Goldman Sachs.
Cashless transactions in Russia soar 30-fold from 2010 to 2018
The number of cashless transactions in Russia soared 30-fold from 5.8 to 172 on average per person between 2010 and 2018.
The number of cashless transactions in Russia soared 30-fold from 5.8 to 172 on average per person between 2010 and 2018, RBC business portal and Kommersant daily reported on October 3 citing the study by the Boston Consulting Group (BCG) that sees the development of electronic payments systems in Russia as "phenomenal".
As reported by bne IntelliNews, the volume of cashless transactions at RUB48 trillion ($73.6bn) was almost double the amount of withdrawn cash in 2019, according to the data by the Central Bank of Russia.
In the reporting period of 2010-2018 Russian cashless market outgrew all other European peers, the BCG study shows.
BCG believes that Russian consumers have leapfrogged the traditional development of payment means, as Russia is also Europe's largest market for e-wallet transactions and the global leader for protected tokenised transactions.
Adaptation of contactless payments such as Apple Pay and Samsung Pay was more successful in Russia than in other territories.