Russian Classified Giant?s $75m From Accel Shows It?s 1999 In Emerging Economies

Avito.ru, the biggest online classified ads site in Russia, has secured a fresh $75 million round of funding from Accel Partners' London office. Founded in 2008, Avito has so far landed $101 million from Accel, Baring Vostok Private Equity, Kinnevik, and Northzone. The capital will be used for expansion and hiring. Russia's classifieds ads business has plenty of room for growth becuase - guess what kids - it?s basically 1999 out there is Russia. And this large emerging market is playing through all those businesses models we know and love from back in the good 'ol days. Expect more of this.

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