Russia’s ‘Google’, Yandex, is expanding into the automotive online space. The search giant recently announced it is purchasing Auto.ru, Russia’s leading online auto classified business, for $175 million.
Auto.ru is the largest online auto classifieds business in Russia with more than 400,000 listings for new and used vehicles. Auto.ru also publishes listings for tires and auto parts along with editorial content in the form of news, reviews and forums.
The reason behind today’s purchase? “The acquisition of Auto.ru will enable Yandex to provide more comprehensive answers to users’ questions and expand our capabilities in auto classifieds,” said VP of Yandex Commerce Alexey Tretaykov.
Yandex isn’t just buying them for their library of car listings. The search giant intends to expand the website’s functionality in the future.
This purchase isn’t a unique one for Yandex. The search company has made a big push into content as well. Earlier this year, Yandex acquired Multiship, an online-delivery aggregator. Last year, they dropped $80 million on KinoPoisk, a movie database site similar to IMDB.
With Yandex’s massive popularity in Russia, the search engine is the fourth largest search engine on the internet. Only Yahoo, Baidu and Google are bigger. Sorry Bing.