Tip automation startups are much-desired in Russia right now, if judging by an acquisition announced by Yandex, just weeks after another one from Alfa-Bank.
The NASDAQ-listed search giant is now the owner of Chaevye Prosto (‘Just Tips’) — a startup founded in 2018 by Evgeny Zagoruyko and his wife, who spent much of the family’s savings to develop the service.
The terms of the deal were not disclosed, but industry experts interviewed by Forbes Russia estimated the price to be between $1 million and $6 million. Yandex will combine the service with Yandex.Eda and other related foodtech business units.
On its side, Alfa-Bank acquired Netmonet, a startup that uses QR codes to automate tips in restaurants, cafés and beauty salons. Forbes Russia estimated the valuation of this market leader at approximately $4 million.
