Internet companies ranked by growth – Kommersant FM – Kommersant
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Russian IT companies have fallen in price by $14 billion over the year. The rating of the largest corporations was compiled by Forbes. It was headed by Yandex, Wildberries and Ozon. A year ago, the top three included “Avito”, which this time took only the sixth line. Some organizations from the list fell in price due to the sale of an asset to a Russian owner. Others were able to improve their performance, for example, domestic software developers and marketplaces.
Details – in the help “Kommersant FM”:
The rating of the most expensive Runet companies, like last year, is headed by Yandex. True, at the end of 2022, it fell in price by more than one and a half times – from $17 billion to $10 billion. Sanctions were not imposed against the corporation itself, but top managers fell under restrictions, for example, former CEO Tigran Khudaverdyan and co-founder Arkady Volozh, who left your posts.
The second and third places were occupied by the largest marketplaces Wildberries and Ozon. They managed to improve their results compared to last year. For example, the value of an asset of the Bakalchuk family, according to Forbes, increased from $7.5 billion to $9.8 billion. Only Aliexpress Russia did not affect the trend. It was abandoned by a foreign shareholder, and the company’s business did not grow last year.
Some large Runet companies have fallen in price due to their sale. Thus, the Avito service lost two-thirds of its value – Forbes estimated it at almost $ 2.5 billion. In October, the Dutch investment group Prosus, which owned 100% of the bulletin board shares, sold the asset. And the Elbrus Group fund, in turn, got rid of a 22% stake in HeadHunter. As a result, the job search service lost more than $1 billion in value.
Reducing the cost of IT companies is a global trend that emerged last year. Shares of the Meta corporation (recognized as extremist and banned in Russia) collapsed by 64% in 2022. Amazon fell 50% and Google’s parent company Alphabet fell 39%. In addition, many players have begun massive layoffs of employees. The global trend also affected Yandex, but there were other reasons related to the peculiarities of the corporation’s business, Leonid Delitsyn, an analyst at the Finam group of companies, noted:
“Yandex has achieved high turnover, diversifying its business by moving into low-margin industries. Therefore, in addition to the general reduction in the cost of IT companies in general, which affected both Google and other companies, a change in the main direction of Yandex’s activity is added. If earlier it was mainly a search engine, now it is primarily a taxi aggregator, a logistics company and a marketplace, and only secondly is search, judging by revenue.
As for the interest in it from Russian investors, they are very pragmatic. They want a public company to pay dividends and value it based on its dividend yield. Accordingly, it is expected to answer the question of how many times a year, when and in what volume dividends will be paid. “Yandex” will not answer it in the near future, so investors have no particular interest in it.
Improved their positions in the ranking of the most expensive companies runet and developers of domestic software. According to Forbes, SKB Kontur, Tenzor and Gruppa Pozitiv have more than doubled in price. The publication connects this with the departure of Western suppliers from the country. The global slowdown in the growth of IT companies did not affect these players, said Vitaly Zarubin, founder and CEO of the Bureau of Digital Technologies. Marketplaces, according to him, will also continue to develop:
“There are other, more local trends in Russia now. There is a certain growth of companies here, as the market expands, the number of customers who are located directly in the country increases. If earlier the number of companies that worked with the conditional “Bitrix24” from 1C was limited due to the highly competitive environment, now, since it is reduced by special methods, there are many more organizations that use the services of “Bitrix”.
The same can be said about Kaspersky, “Kontur.Diadoc”, domestic operating systems have become more in demand. It seems to me that marketplaces will maintain the same growth rates. In Russia, there is still a rather low level of online penetration. It is well distributed in the leading million-plus cities, but if you take all 140-150 million of the population, most of it is not covered.
The Forbes rating also includes online cinemas – Kion, Ivi, Start and Okko. The value of last year’s leader among companies in this segment, Ivi, sank by $500 million. According to Kommersant FM’s interlocutors, this was due to the failure of plans to enter an IPO and attract foreign investors.
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