In a busy week of consolidation for Russian search engines, Rambler has purchased 51% of Price Express, a leading e-commerce Internet company and owner of several high profile web sites in RuNet.
Price Express operates the internet portals Price.ru, Domoteka.ru and Tyndex.ru, which provide price and product comparison tools designed to help online shoppers make the most cost-effective buying decisions. Price Express was one of the first e-commerce companies to be launched in Russia when it was set up in 1997. The company now has offices in Moscow, St Petersburg, Volgograd, Ekaterinburg, Nizhny Novgorod and Novosibirsk.
Price.ru, Price Express’s most popular website, is a one-stop shopping portal, which enables shoppers to compare prices and buy products in a simple, quick and safe way over the internet. Price Express has a database of 40 million priced items, offering consumers one of the largest and quickest buying choices in the Russian internet market. Over 1 million shoppers visited Price Express’s websites every month in 2005.
Arkady Moreinis, Director of Price Express, commented: “Our online comparison shopping portals attract a growing number of online shoppers. We believe that our service offering, combined with Rambler Media’s leading position in the Russian internet arena, will enable us to expand our brands and strengthen our respective positions in the market.”
Irina Gofman, CEO of Rambler Media, commented: “Online comparison shopping and product searches are increasingly popular e-commerce services. Rambler Media’s acquisition of Price Express, a key player in Russia, is of strategic importance. Firstly, it adds price comparison shopping to Rambler Media’s existing online offer. Secondly, by combining our services, Rambler Media and Price Express will reach a broader audience. Thirdly, this new media channel will attract more advertisers seeking to reach Russian internet users, thus generating new revenue streams for our companies.”