Yandex, “the Google of Russia”, has bought Sovetnik by Metabar from Runa Capital, a Russian venture capital fund.The terms of the deal were not disclosed.
Sovetnik, which means “advisor” in Russian, is a browser extension that helps users find the best offer for online shopping. Sovetnik notifications appear when a person chooses an item in an online store. The application analyses the content of the page that the user is viewing, and shows multiple choice of on-line marketplaces where one can buy the same product with the best options – by quality of additional services and price. Sovetnik is used by more than two million people in Russia.
“Sovetnik provides a hint instantly, in the right place, and at the right time. People do not have to figure out where to make a purchase”, says Alexander Feoktistov, Head of Yandex.
Runa Capital fund invested $1 million in Metabar in 2011. Metabar team invented Sovetnik in 2013 and decided to pivot and focus on this project and the business around it. Runa Capital reports that the Yandex acquisition deal provided a multiple return on investment.
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