At Adevinta, we believe everything and everyone has a purpose in life. Our selection of digital brands unlock the full value in every person, place and thing by creating perfect matches on the world’s most trusted marketplaces.
Sustainability is in our DNA, and we are recognised as a global sustainability leader by DJSI Europe. By providing marketplaces where people buy and sell second-hand goods, we contribute to the circular economy and help people live more sustainably.
At Adevinta we'll stay ahead of the curve by using innovation, curiosity and technology to develop products that help everyone and everything find new purpose.
We're all about matchmaking, and we take the same approach to hiring. But it's not just about finding the right skills for the job. It's also about making sure the role and the culture are the right match too.
We care about gaining and keeping the trust of our users, customers and stakeholders by acting responsibly, promoting sustainability and protecting the environment.
We invest in companies with tangible traction, a potential to scale beyond their domestic market, and who we can support with more than just financial resource.
Press room page for all your news
Oslo, 22 June 2020 - Adevinta ASA (ADE) has signed an agreement for the sale of Corotos, its online marketplace in the Dominican Republic, to three local entrepreneurs: Alvaro De Camps, Managing Partner at Antares Equity Partners; Javier Lara, co-founder at Bonita Real Estate Group; and Sergio Dario Reyes, partner and CTO at 7Labs.
Corotos holds a solid leadership position in the highly competitive Dominican Republic market with over 1.3 million unique users per month. The change in ownership represents an opportunity for the marketplace to pursue its growth story by developing its product portfolio locally, taking advantage of local synergies, and positioning itself as a truly local platform.
“Our comprehensive strategic review has shown that local ownership will best position Corotos for long-term growth and success, so we have decided to divest” said Rolv Erik Ryssdal, CEO Adevinta. “Exiting the Dominican Republic will allow Adevinta to focus on continuing to build momentum in markets where we see more significant growth opportunities. Corotos is an attractive asset for a local player which will be better positioned to leverage local synergies and partnerships. During the transition period, we will fully support the Corotos team and the new owners in achieving a smooth handover.”
Corotos was launched by Schibsted in 2011 on the Blocket platform, and started operating locally in 2015. Corotos has been a strong contributor to shared technology in Adevinta. The new owners will migrate Corotos to their own platform over the next few months. This new setup will give Corotos the necessary momentum to move forward faster and develop its product portfolio with greater agility.
Discover our media resources, brand assets, guidelines, photos and more
Adevinta ASA
We use our own and third party cookies to measure traffic on our website and for technical, personalization and analytical purposes based on browsing data. To continue browsing the website you must accept or configure the cookies that will be applied to your navigation.For more information, you can review our Cookie Policy.
