Melior Capital Ltd, the operator of Cyprus' no.1 recruitment platform Ergodotisi, announces that an investment vehicle led by Vladimir Pravdivy and Petras Vaicius has acquired a controlling stake in the company. Digital Tree, leading Cypriot media & Digital Services holding company, will remain active as a minority shareholder with a 25% stake. Vladimir Pravdivy, Petras Vaicius and Digital Tree CEO Phanos Demetriou will join Ergodotisi’s board.

Vladimir Pravdivy previously served as CEO of Avito, one of the world's largest classifieds platforms, while Petras Vaicius was formerly Managing Director in Bank of America's investment bank.

The company also announces the appointment of Artsiom Rabtsevich as CEO effective March 2025. Artsiom brings extensive classifieds experience, having previously served as CEO of Adevinta Hungary.

Ergodotisi is the undisputed market leader in recruitment classifieds in Cyprus, with over 40,000 job listings posted by more than 6,000 unique employers in 2024. The platform attracted over 300,000 monthly visits and is several times bigger than its nearest competitor in key operating metrics.

"We see tremendous potential in Ergodotisi and are committed to accelerating investments to strengthen the product offering and enhance user experience," said Vladimir Pravdivy. "The platform's strong market position and network effects provide an excellent foundation for implementing next-generation classifieds features and driving sustainable growth."

"I am excited to join Ergodotisi at this pivotal moment," said Artsiom Rabtsevich. "As Cyprus' leading recruitment platform, we have a unique opportunity to facilitate economic growth by better serving local employers and helping Cypriots find meaningful career opportunities. I look forward to working with all stakeholders to fulfill this mission."

Theodoros Middleton, Executive Chairman of Digital Tree, added: "We are thrilled to partner with Vladimir, Petras and Artsiom in this next chapter of Ergodotisi's growth. Their track record and vision for the business perfectly align with our ambitions for the platform."