24 Oct 2023 12:34

Yandex creates separate e-commerce business unit

MOSCOW. Oct 24 (Interfax) - Yandex has combined its Market marketplace, as well as delivery services Food, Lavka and Market Delivery, into a new business unit, E-Commerce, the Internet company said in a press release.

Until now, these were run as separate projects within the "E-Commerce, RideTech and Delivery" segment.

Now "the teams from these services will unite and develop them in synergy with one another." The projects will strengthen technological integration and will be able to use each other's logistics infrastructure," Yandex said in a statement.

The new combined unit will create end-to-end recommendation algorithms that will allow consumers to create personal selections of products based on purchases made through various Yandex e-commerce projects, as well as its expanding delivery formats.

The e-commerce unit will be part of the business group for e-commerce and logistics services, headed by Daniil Shuleiko.

Heading up the e-commerce unit is Roman Maresov, who previously headed the "Food" and "Market Delivery" projects.

Maresov will also head up Market. Yevgeny Anishchenkov, who previously oversaw the retail divisions of these services, will run Food and Market Delivery.

In Q2 2023, E-commerce Services (Yandex combined the results of Market and Lavka in Russia, as well as the Food and Market Delivery grocery projects) increased its gross merchandise volume (GMV) 89% YoY to 110.5 billion rubles. Revenues totaled 40.2 billion rubles, a 100% increase, and 19% of Yandex's consolidated revenue for Q2 2023.