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Mobile TeleSystems

September 18, 2018

MTS invests in online service YouDo

Moscow, Russian Federation – MTS PJSC (the “Company” – NYSE: MBT, MOEX: MTSS), the leading telecommunications operator and digital service provider in Russia, announces the acquisition of a 13.7% stake for USD 12 mln in Youdo Web Technologies Limited (Cyprus), the owner of YouDo, one of the largest Russian online service providers matching freelance labor demand and supply for everyday and business tasks.

The acquisition of a stake in YouDo is aimed at further diversifying MTS business and entering the online marketplace for matching supply and demand for assistance with everyday tasks. The agreement was signed under the latest fundraising round of YouDo where MTS became the lead investor. The raised funds will be used to expand the geography of the business, launch new service categories, carry out a federal advertising campaign, as well as further automate the services offered.

Alexander Gorbunov, Vice President, Strategy and Development, MTS, commented, "YouDo is a rapidly growing business in the promising market of virtual “labor exchange”. We expect that the integration of YouDo into the ecosystem of MTS partners will lead to long-term mutually beneficial cooperation. MTS can deploy full range of its resources and competencies to accelerate YouDo’s geographical expansion and substantially increase the efficiency of its digital marketing, both of which will enable the company to maintain high revenue growth rates.”

Alexey Gidirim, co-founder of YouDo.com, commented, "Partnership with MTS is not just a financial transaction, but also allows us the access to MTS’s huge audience and expertise. We believe that this investment will further accelerate and improve our business development. Together we will be able to provide unique services and quickly scale them across a wide geography.”

YouDo Group is the leader in the labor exchange market for cleaning, repair, freight, courier delivery and other services in the C2C and B2B segments. The service has 5 mln registered users, over 800,000 of which are verified users. YouDo operates in Moscow, St. Petersburg, Nizhny Novgorod, Kazan and Yekaterinburg. About 30% of orders are virtual and placed and executed anywhere in the world.

YouDo.com service is available on its eponymous website ( https://youdo.com ), as well as through mobile apps for Android and iOS platforms. The user just needs to publish a task, advertise the offered reward, and select their preferred contractor from those that offered their services. All contractors are screened by the platform and evaluated by users, which guarantees high quality standards of provided services.

* * *

For further information, please contact in Moscow:

Investor Relations Department 
Mobile TeleSystems PJSC 
Tel: +7 495 223 2025 
E-mail: ir@mts.ru

 

 

 

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