Deepti Sri · · 1 min readOnline classifieds firm Frontier Digital Ventures acquires Chile-based Yapo
Malaysia-based online classifieds firm Frontier Digital Ventures announced it has acquired Chile-based general classifieds portal Yapo for approximately US$19.5 million.
The Frontier Digital Ventures team / Photo credit: Frontier Digital Ventures
The deal will help Frontier scale and diversify in the region, balancing its risk-return profile, said the company in a statement. The acquisition will also help in creating potential opportunities for collaboration or consolidation in Latin America.
Launched in 2011, Yapo provides its classifieds service across the high-value auto and real estate verticals. The acquisition is also expected to make a material contribution to Frontier’s revenue since the company’s initial public offering in 2016.
“With this acquisition, [Frontier’s] network of operating companies now spans the length of South America, significantly enhancing our position in a highly attractive region,” said Shaun Di Gregorio, CEO of Frontier.
Last December, the company raised US$67 million to acquire online classifieds businesses Avito in Morocco, Tayara in Tunisia, and Fincaraíz in Colombia from Yapo’s parent firm Adevinta ASA.
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Frontier will capitalize on the popularity of the growing online classified market, which is poised to hit US$463 billion by 2023.
Editing by Collin Furtado and Jaclyn Tiu
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