OREANDA-NEWSYandex.Market is discussing the transformation of its marketplace (e-commerce site) “Beru!”, It can integrate the direction of cross-border trade, which until now has specialized in another online platform - Bringly. Two sources close to the co-owners of Yandex.Market told Russian media. According to one of them, the cross-border platform is developing at a slower pace than “Beru!”.

The transformation of the marketplace is under discussion, but how exactly it will be implemented until it has been decided, the media representative of Yandex.Market, Polina Upitis, confirmed the media. At the first stage, in the plans of Yandex.Market, to bring to “Beru!” Electronics, which will be stored, including in a warehouse in Latvia, and delivered through partners. This will reduce the delivery time, counting in Yandex.Market.

In April 2018, Sberbank and Yandex closed a deal to create a joint venture based on Yandex.Market LLC (it developed a service of the same name for price comparison). Both sides have 45% in the joint venture, another 10% of the shares were transferred to the formation of an option fund for the Yandex.Market team. As part of the transaction, Sberbank allocated 30 billion rubles to Internet companies on development. “We want to build a Russian Amazon on the basis of Yandex.Market, and I very much hope that we will succeed”, said the head of Sberbank, German Gref.

According to the Association of E-commerce Companies, in 2018 the volume of the Russian online trading market grew by 59% compared to the previous year and reached 1.66 trillion rubles. Sales of domestic online retail increased by 73% to 1.15 trillion rubles, foreign sellers in the Russian market increased by 34.7% to 504 billion rubles. Yandex.Market doesn't disclose its financial indicators. But at the annual meeting of Sberbank at the end of May, German Gref announced that the monthly revenue of the "Beru!" Marketplace surpassed the mark of 1 billion rubles.