Sber acquiring 80% stake in InSales
The Sber ecosystem is being joined by InSales’ online sales platform – the companies have signed legally binding documents. InSales solutions let entrepreneurs start online businesses and manage them effectively and easily. This includes online stores, marketplaces, social media, and other e-storefronts.
According to the terms of the agreement, Sber is acquiring an 80% stake in InSales, with 20% to remain with three of its founders and top executives. The deal is scheduled to be closed in the second quarter of 2021 after condition precedents occur.
Sber and InSales are set to develop the platform, expand the list of services on offer, enter new market segments, and, in the near future, build a universal instrument to manage online sales across all e-storefronts using this platform. The instrument will include all the B2B services that online businesses need.
InSales joining the Sber ecosystem, above all, brings new opportunities for SMEs, which account for the majority of our corporate customers now exceeding 2.5 million businesses. We seek to take on all the routine work that prevents entrepreneurs from focusing on the development of their businesses. And it goes beyond creating a website for an online store, also including a full cycle to manage online sales. Our goal is to offer any company an opportunity to start an online business as effectively as possible by using all available tools and sales channels. The InSales platform has over 8,000 active entrepreneur members now, and their aggregate turnover overshot RUB 58 bn last year. Due to Sber’s technologies, services, products, and investments, the platform will be evolving fast while adding new products and solutions, including those by the Sber ecosystem and by other leading market players. As a result, we expect the scale of InSales business to increase manifold in the next few years.
Deputy Chairman of the Executive Board, Sberbank
Over the past year and a half, the e-commerce market has made a qualitative breakthrough in new channels, technologies, and formats of online sales. These technologies are now available mainly for large online retailers. We, as a tech company, are enabling access to these technologies for a wide variety of producers and retailers. We are removing technical barriers and allowing clients to work with all available contemporary online sales channels without engaging tech experts or having to handle development or integration.
Maintaining a high rate of change and our place at the forefront of e-commerce tech requires significant investments. That is why we consider this step to be the natural response to market transformations. The Sber ecosystem is gathering major players across industries. Product synergies will allow us to provide retailers and producers with the next level of tools and services: marketplace entry, the launch of online retail operations, social network and messaging automation, and integrated delivery and payment infrastructure.
CEO and Co-Founder, InSalesInSales, a leader in CMS platforms for online shopping websites using the SaaS model, develops innovative software for entrepreneurs working in e-commerce in Russia, Ukraine, and Kazakhstan. The company focuses on SME client outreach. The InSales platform handles all of the online entrepreneur’s major technical challenges, including site design and content, administration, inventory and order management, client communication, integration of delivery and payment solutions, business promotion, etc.