Yandex has purchased 100% of the online platform CM.Expert, which is used by car dealers to manage sales of used cars.
As explained in Yandex, with the help of CM.Expert dealers automate the management of used cars warehouse based on the data mining of the “live” market. The online platform analyzes all data: information on sales, history of ownership and operation of a car, after which it evaluates the liquidity of cars, offers the optimal buyback price and sales tactics. This allows dealers to increase warehouse turnover.
After the completion of the transaction, CM.Expert will remain an independent company and will continue to develop independently, Yandex will not influence operational decisions and the operation of the platform. The full operational team will remain in the project and will continue to develop it.
In the press release, the Yandex Press Service include the below quote:
Yandex technologies will help CM.Expert to further develop products for market players. Thus, due to machine learning, demand analysis will become more efficient, and dealers will receive a more accurate forecast of prices for selling and buying cars from individuals.
More than 1000 dealer centers throughout Russia use CM.Expert products. The platform manages more than 40 billion rubles of capital invested in used cars; monthly CM.Expert estimates more than 140,000 cars.
According to a Yandex representative, the deal became an exit for a fund managed by Skolkovo Ventures, which invested 200 million rubles in the company in March 2020.
