Internet commerce in Russia increased 30 percent in 2011 to $10.4 billion as leading e-commerce Web sites like Avito.ru saw huge increases in usage and turnover.
Avito.ru, the Russian equivalent to eBay, launched in 2007 but didn’t see significant growth until 2010. In 2011, the site hit the $10-million mark and saw $40 billion in commercial activity, up from $15 billion in 2010. It’s hard to believe that the company still doesn’t turn a profit despite the sheer volume of activity.
Russia has been the number one Internet market in Europe since it reached 60 million Internet users last year.
Source: The Moscow Times