Marketplace specialist Adevinta sold its online classifieds business Yapo in Chile to Frontier Digital Ventures (FDV), to whom they have previously sold assets Avito (Morocco), Tayara (Tunisia), and Fincaraíz (Colombia) in October 2020.
The company sold Yapo to optimize their Global Markets portfolio, allowing for a stronger focus on large markets and reduced complexity for the Group going forward, said Rolv Erik Ryssdal, CEO of Adevinta.
“I am very proud of the work achieved by our team in Chile, building Yapo into a solid leader with strong traffic and growth. Yapo requires additional investment, support and resources to continue this momentum, and I believe that FDV has the expertise and focus to help Yapo reach its full potential. The new owners will be a good fit for Yapo and give the team the support they need to move forward faster,” said Ryssdal.
“Yapo is a great strategic fit for FDV and will complement our existing businesses across South America. We look forward to working with the local management team to accelerate the growth of the business and help them reach their full potential. This transaction follows FDV’s recent acquisition of Fincaraíz, Avito and Tayara in October 2020, continuing the strong working relationship developed between FDV and Adevinta,” said Shaun Di Gregorio, FDV’s founder and CEO.
At the same time, Adevinta is making other changes to its portfolio. The company is trying to acquire eBay Classifieds Group, which might reduce competition in the U.K., as the Competition and Markets Authority (CMA) stated.