Digital cartography service 2GIS joining Sberbank ecosystem
June 11, 2020, Moscow — Sberbank has signed binding documents with respect to investments in the development and acquisition of a controlling stake in 2GIS, a leading Russian digital maps and city guides company, which provides geoinformation and hyperlocal services to about 50 million users (MAU) in Russia, CIS, and abroad.
The deal, which also involves O2O Holding LLC – a foodtech and mobility JV between Sberbank and Mail.ru – will result in Sberbank’s shareholding of 72%, O2O’s share will stand at 3%, while the founders and top managers will retain a 25% stake in the company. Investment funds Baring Vostok and RTP Global will sell their entire stake in 2GIS. 100% of the company’s shares are valued at RUB14.3 bln for the transaction purposes.
The company’s board of directors will include Sberbank representatives and founders of the service. The deal closing is expected after receiving approval from the antitrust authorities and meeting conditions precedent in 3Q20.
Sberbank and 2GIS plan to jointly develop the technological platform and products of the company, creating services that will greatly simplify the daily lives of users and help entrepreneurs run their businesses.
- The platform will allow users not only to receive information about an object and its location on the map, but also to choose the best and most convenient way to reach it using public, personal, and sharing mobility services (car, bicycles, scooters sharing and etc.), request rides and pay for them.
- 2GIS plans to become a marketplace not only for large companies but also for local businesses that do not work or are underrepresented online, providing them access to a huge audience and opening up new opportunities for business development, such as selling goods online and delivering them to consumers, providing convenient communication with customers and partners, as well as managing positioning in the media.
- The company will work on convenient tools for developers who seek to create the best experience in local search, mapping, and navigation in digital products.
Having its own digital mapping platform will enable Sberbank ecosystem companies to create unique products and services, providing the best customer experience. Integration with 2GIS will accelerate the development of various areas of Sberbank’s business, its ecosystem, as well as the JV between Sberbank and Mail.ru Group, such as Citimobil, Delivery Club, SberFood, Samokat, etc. Besides, 2GIS services will be integrated into banking applications for individuals and corporate customers.
Sberbank and 2GIS have already launched joint initiatives to promote ecosystem products and services and started introducing to 2GIS applications some new and popular features.
Herman Gref, CEO, Chairman of the Executive Board, Sberbank:
“2GIS is one of the leaders in the geoinformation market, one of the largest companies on the Russian internet, a strong brand with a developed technological base and high audience loyalty. 2GIS services are familiar to millions of Russians, both individuals and businesses, not only domestically, but also abroad. I am sure that the synergy with 2GIS will open up new opportunities for improving the quality of life of our customers and developing the Sberbank ecosystem. We plan to create several potentially breakthrough services that can be built using this platform, by combining the competencies and technologies of the bank and 2GIS. Cooperation with the company and our work on synergies start now, without waiting for the deal to close. Also, we are very pleased that such a highly professional and motivated team will become part of our group.”
Alexander Sysoyev, founder, shareholder, 2GIS:
“We believe that our partnership with Sberbank will allow us to develop products quicker and help even more people navigate cities, choose the best organizations, and get to them. Together we want to make the best mapping and navigation solution on the market, which will be available not only to projects of the Sberbank ecosystem but also for the entire growing audience of 2GIS, for any other companies that need our technologies. As part of the deal Sberbank is acquiring the shares of 2GIS financial investors, Baring Vostok and RTP Global funds. We are grateful to the funds for the joint work and significant contribution to the development of 2GIS.”