AliExpress now controls 69% of Russia’s e-commerce market

IMAGE SOURCE: GETTY IMAGES

Yandex (NASDAQ:YNDX), which owns Russia’s top search engine, recently launched an online marketplace called Beru, which it claims could become one of the country’s top three e-commerce platforms for local goods by the end of 2020.
AliExpress now controls 69% of Russia’s e-commerce market according to Ecommerce News Europe. Alibaba also launched a dedicated version of Tmall for Russian shoppers last year, and recently inked a $2 billion Kremlin-backed e-commerce venture with billionaire Alisher Usmanov.

To counter Google and lock in its users, Yandex aggressively expanded its ecosystem of services — which include cloud and email services, a virtual assistant called Alice, an AI-powered recommendations platform, streaming videos on its homepage, rides and food deliveries from Yandex.Taxi”

https://www.google.com/amp/s/www.fool.com/amp/investing/2018/10/29/alibaba-faces-a-new-rival-in-russia-yandex.aspx

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