Support The Moscow Times!

Yandex Investing in Logistics Provider as E-Commerce Booms

As e-commerce heats up here, international players are relying on express shippers like DHL to bring in products. Igor Tabakov

Internet group Yandex has invested in MultiShip, a logistics services provider for online stores, in a move to reinforce its e-commerce platform.

Russia's biggest search engine, Yandex generates the bulk of its revenues from text-based advertising but also develops other services such as its price comparison service, Yandex.Market.

In a statement on Wednesday, Yandex said it would pay $1 million for a software platform that makes it easier for online retailers to deliver goods to customers in Russia's regions by connecting them with logistics providers.

Yandex will also invest several million dollars into new services and the expansion of MultiShip's client base. It added that MultiShip's software developers would join Yandex's team.

The move comes on the heels of an agreement between the Federal Customs Service and express shipping companies on Tuesday that could allow for deliveries from abroad of parcels to individuals. Several shipping companies said last week they were terminating the service, which was frequently used for delivering packages purchased from online suppliers abroad, in light of increased duties and paperwork requirements from the customs authority.

On Wednesday express shipping company DHL said it was working on implementing the agreement with the goal of reinstating package delivery services for individuals.

Yandex said that with the acquisition of Multiship the users of Yandex.Market will be able to choose goods from online stores in other regions based on cost and time of delivery.

MultiShip works with more than 300 internet stores, helping to arrange delivery to more than 40,000 cities and towns. Yandex.Market features more than 14,000 online stores and has an estimated monthly audience of  18 million shoppers.

Material from The Moscow Times was used in this report.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more