🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Prosus removes military job adverts on Russian online marketplace

Published 03/22/2022, 12:24 PM
Updated 03/22/2022, 12:26 PM
© Reuters. FILE PHOTO: Prosus' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration
PROSF
-

AMSTERDAM (Reuters) - Amsterdam-based Prosus (OTC:PROSF) NV, the owner of Russian online marketplace Avito, said on Tuesday it has taken steps to remove "a small number" of advertisements for jobs in the Russian military that had made it onto Avito's listings.

Prosus runs Avito as part of its OLX business, which is one of the world's biggest online marketplaces.

"Our Avito classifieds site in Russia hosts around 90 million active adverts and moderates around 5 million new listings every day," Prosus said in a statement.

"We were made aware of a small number of job adverts for military vacancies that had been posted on Avito, and this has now been addressed."

It did not give details of the jobs.

A Prosus spokesperson said the job adverts had been put up by the Russian military.

Prosus drew criticism on social media for the job adverts from some Ukrainians angry that the Dutch company was allowing the Russian military to recruit on Avito.

Prosus has said it was "appalled" by Russia's invasion of Ukraine, which Moscow says is a "special military operation". However, the Dutch company decided to continue Avito's operations, which employ 4,000 people in Russia.

"For us to rush out and leave those people without their livelihoods in the short term feels like the absolute wrong thing to do," CEO Bob van Dijk told investors on March 7.

Before the war Avito was valued at around $6 billion. The company said it could not provide forecasts, but Avito's profitability and valuation will be affected by the conflict, given the plunge in value of the Russian rouble.

© Reuters. FILE PHOTO: Prosus' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration

Separately, Prosus has written off the entire value of its 27% stake in VK Group, the Russian social media platform whose London-listed shares were suspended following a U.S. decision to impose sanctions on its chief executive.

Prosus is part of a cross-holding entity with Naspers of South Africa, with the two companies sharing a single board.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.