The owner of the PIK group, Sergey Gordeev, said that Yandex, when creating a long-term rental service, copied the advertising and business model of the PIK-Arenda service. Yandex said that the coincidence of advertising layouts is caused by reasons natural for the market.
“Yandex has no time for innovation, their business model is now copy-paste, whether it be delivery, taxi or real estate, so we are ready to help them with innovations and creative advertising,” said Mr. Gordeev during the St. Petersburg International Economic Forum (SPIEF).
“On the real estate rental market, like any other, the most frequent hypotheses are tested before launching an advertising campaign. Those that get the most positive feedback go into production. Similar texts and visual elements can be found in advertisements of any of the market players, “Yandex told Interfax.
PIK Group of Companies is the largest housing developer in Russia. The controlling shareholder of PIK with a share of about 59% is Sergey Gordeev. The company’s shares are traded on the Moscow Stock Exchange.