Russian Ecommerce firm Yandex has invested in shipping startup MultiShip.
MultiShip is a shipping aggregator capable of showing multiple shipping companies and their fees within Russia. Yandex saw the potential in MultiShip and not only invested “several millions” in the firm, but also purchased the software platform for $1 million and incorporated it into the Yandex.Market price comparison service.
Yandex.Market is Russia’s largest price comparison website, and is used by half of online shoppers in the country. The immense success Yandex has seen with Yandex.Market has resulted in them planning on soon transforming the website into a price comparing marketplace, allowing for customers the chance to purchase the products as well. The implementation of MultiShip will give Yandex.Market customers the ability to compare and request adequate shipping within Russia.
“We will display accurate information on the final cost and period of delivery for orders – which is not always provided by the merchants themselves. For this, we’ll seek some information integration with delivery companies. Perhaps we’ll even allow e-shoppers to choose the most relevant shipment option for their order,” said Alexander Feoktistov, head of marketing at Yandex.Market.
MultiShip was launched in 2013 and has made shipping and pick-up point services throughout Russia its main offering. MultiShip has partnered with over 15 courier services to offer Russians new alternatives to the local postal service. MultiShip works with courier services like B2C-PL, Boxberry, CDEK, Courier Service Express, Maxima Express, and Pony Express, and also with pick-up services like PickPoint and QIWI Post.