1C increased its equity stake in the e-commerce platform Bidzaar and two related companies. The founder of Bidzaar, Andrey Chernogorov, transferred the share to the partner, RB.RU learned. Experts believe that in this way 1C invests in the growth of the small and medium-sized business segment.
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Transaction details
1C increased its shares from 49.6% to 74.6% in Bidzaar LLC, Cognitive LLC (E1 Procurement) and Bidzaar Development LLC. Chernogorov’s share in the three Russian legal entities decreased from 50.45% to 25.45%. The agreements were closed on November 25.
1C and Bidzaar did not respond to RB.RU’s request. According to Finam FG analyst Leonid Delitsyn, the enterprise value of Bidzaar LLC can be estimated at between 600 and 1 billion rubles.
“1C has been systematically increasing its stake in the company for several years thanks to the important synergy between 1C and Bidzaar. “1C gets a technical solution and Bidzaar gets a rapidly growing customer base,” Delitsyn said.
1C gradually increased its stake in Bidzaar and two other legal entities: it entered the capital for the first time in 2022 and received 28%. The company increased its stake for the second time in July 2023, up to 49.55%, due to the departure of Olga Zarubina from the project. Terms of the agreements were not disclosed. After the first transaction, Bidzaar was integrated into the 1C ecosystem to increase the efficiency of 1C:Enterprise.
What asset did 1C buy?
- Bidzaar is an electronic platform for conducting tenders. More than 932 private companies make purchases on the platform, including Ozon, Detsky Mir, T2, Baltika and others, according to the trading platform’s website. The annual turnover is almost 500 billion rubles. In July 2023, the company estimated the number of its clients at 370.
- Bidzaar LLC’s net profit in 2023 amounted to 60.6 million rubles, revenue – 327.6 million rubles. The Bidzaar website talks about plans to achieve revenues of more than one billion rubles in 2024.
- Founder Andrei Chernogorov reported on October 17 on his Telegram channel that more than 0.3% of Russia’s GDP passes through Bidzaar, but the platform’s potential is “100 times greater.” “We are systematically moving towards uniting absolutely all 1.5 million companies in the Russian Federation into a single purchasing cycle,” said the company’s founder.
- In 2021, Bidzaar raised $2 million from Sber Pharmacy founder Anton Buzdalin. A year later, the Cypriot offshore company, which received 24%, withdrew from the company’s capital.
Experts in e-commerce platform market trends
Vladimir Skorodumov, Business Architect of ERP Practice, Corus Consulting Group of Companies explained to RB.RU that the increase in 1C’s participation in the B2B e-commerce platform Bidzaar is associated with a global trend – the development of cloud technologies.
“Taking into account the presence of our own cloud “1C:Fresh”, the EDI and EDI services offered, the acquisition of a part of “Bitrix24” and “amoCRM”, investments in partnership with Bidzaar are logical. Furthermore, this is an investment in one of the key markets for the provider: small and medium-sized businesses, which are increasingly using turnkey SaaS solutions. In this way, the 1C company strengthens and expands the ecosystem around its popular and well-known IT products, including, for example, 1C: Accounting,” Skorodumov noted.
General Director of ETP GPB for interaction with government bodies Sergey Kalinin He says there is a clear trend in the market towards small and quick purchases.
“At the same time, we see that practices from the B2C segment are moving to B2B. Additionally, larger B2C marketplaces are entering the B2B market. At the same time, market regulators promote the digitalization of small purchases, so the level of digitalization is growing,” said the expert.
According to Kalinin, at the same time there are new or aggravated problems in this area.
“The costs of supporting and making small purchases are high. Control over small-volume procurement is insufficient and there are many procurement tools, they are very different and this does not add comfort to those who work with procurement. On the other hand, it is worth highlighting import substitution, the search for Russian analogues and, most importantly, a selection of high-quality analogues (this is still a trend), as well as the development of closed-loop trade,” said the expert.
Author:
Ekaterina Strukova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
