GigAnt

Recruiting service GigAnt helps retailers, companies from the sphere catering and other businesses to attract temporary performers to solve specific problems. By December 2020, the service operates in,,, and To Moscow St. Petersburg. Novosibirsk Ulyanovsk

History

2023

Share repurchase from investors

In mid-July 2023, it became known that the service for finding part-time jobs GigAnt buys out the shares of its investors - Avito, Startup Lab, Mikhail Kuchment and Pyotr Demchenkov. We are talking about 45.37% of the company, and the amount of the transaction was not disclosed.

As Forbes notes, earlier GigAnt shareholders represented by Avito, Kuchmenta and Demchenkov sued the co-founders of the service - Denis Reshanov and Mikhail Valkovsky. The reason for the proceedings was accusations of embezzlement. At the same time, Startup Lab decided not to join the lawsuit.

GigAnt buys out its investors' stakes

Reshanov and Valkovsky opened GigAnt in 2019. Avito, having invested 500 million rubles in the startup, received a 25% stake, and then increased it to 33.8%. At the same time, Valkovsky left 54.63% (includes Reshanov's share), Kuchment - 6.45%, Demchenkov - 3.41%, Startup Lab - 1.7%

Reshanov said that the redemption of shares in GigAnt from investors provides for the conclusion of an amicable agreement in the framework of this case. According to him, this transaction is "a consequence of the divergence of views on the development of the company." At the same time, it is noted that investors left the startup due to the "loss of confidence" in the founders. The redemption of shares will be made at the expense of funds received from the Logomashina design studio. Reshanov has been developing this company since 2014 together with his partner, Roman Gorbachev. It takes two months to transfer the required amount.

A Forbes source close to the parties to the proceedings said the deal would allow investors to reclaim an "acceptable portion" of the investment. At the same time, Kuchment said that the funds received from the transaction are "comparable to the income from the bank deposit." According to market participants, the amount raised by investors can vary from 100 million rubles to 169 million rubles (the second figure was indicated in the claims).^[1]

Investors sue the company

In February 2023, it became known about the emergence of a collective lawsuit filed by investors against the founders of the service for finding temporary staff of Gigant Denis Reshanov and Mikhail Valkovsky. The plaintiffs are investors in the project, Chairman of the Supervisory Board of the Kh5 Petr Demchenkov, co-founder of HoffMikhail Kuchment and Keh Ekommerts LLC (Avito).

According to a source familiar with the situation, the cause of the claim, in the amount of 168 million, was the large embezzlement of funds by Valkovsky and Reshanov. The source explains that the conflict between Gigant and investors began back in 2021, and the shareholders did everything possible to resolve the situation peacefully, but in the end they were forced to go to court.

2020: Avito bought 25% of GigAnt

In the fall of 2020, the company's shareholders included Petr Demchenkov and Mikhail Kuchment.

On December 21, 2020, it became known that the deal to sell 25% of GigAnt to the free classifieds service was closed. Avito Under the terms of the agreement, companies in the first quarter of 2021 will launch a joint project to find temporary performers during peak load hours, which will become part of the Avito Rabota platform.

A representative of Avito Rabota, in a conversation with TAdviser, said that the company could not disclose the financial component of the transaction.

For Avito Work, the most important thing is that the applicant can quickly find a job or part-time job without leaving Avito. Now, thanks to GigAnt technologies, Avito's multimillion-dollar audience, the synergy of our resources and knowledge, we are together creating a convenient and  technological Uber-like service, "she said, answering a question about the main goal of investing in GigAnt.

According to Kommersant, Avito invested about 500 million rubles in GigAnt. It turns out that the estimated cost of a startup is about 2 billion rubles. An analyst at one of the large companies contacted by the publication called this assessment "high."

It is important to know how they grow, - says the interlocutor. - If the growth is very large, then often consider the last month multiplied by 12, then 500 million rubles could become an explainable level. But still for 100%, not 25%.

The founder of GigAnt Denis Reshanov believes that thanks to the collaboration, GigAnt and Avito will help many more companies and those who want to earn extra money.

GigAnt has technology that allows companies to solve operational problems quickly and efficiently - cope with the flow of visitors during peak hours, increase customer loyalty, receive additional revenue and at the same time save on the wage fund. And we help people to receive additional earnings. Avito Rabota has a huge audience and competencies that will help us scale our business, "he stressed.

Avito acquires 25% of GigAnt

The main owner of GigAnt, Mikhail Valkovsky, told the newspaper that Denis Reshanov will soon become a member of the founders.

Commenting on the deal between Avito and GigAnt, experts interviewed by Kommersant noted that the selection of temporary employees is relevant in 2020. Retailers are facing a large turnover of line staff, and this is becoming a problem for staff services that have to fill positions at all times.

According to Dmitry Smirnov, director of business development at CROC in retail, the demand for line employees for retail is far from satisfied for several reasons: the outflow of visitors, diversification of sales channels, an explosive increase in interest in marketplaces and a drop in the prestige of the profession.^[2]

Foundation of the service

The Gigant service was created in 2019.

Notes