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Bucharest
April 16, 2021
BUSINESS

eMAG: EUR 6.65 M state aid for new software development center

Romanian online retailer eMAG will open a software development center in Bucharest, which will provide technology for electronic commerce. This will create 203 IT jobs, and will contribute some EUR 25.8 million to regional development, according to Mediafax. This figure includes the salary costs for the programmers who will work for the center and tax on profits for the period 2014-2021, the company announced. The project received EUR 6.65 million state aid. The project is part of the company’s strategy to expand the eMAG platform in Europe. eMAG is the largest online retailer in Romania, with EUR 188 million in sales in 2013 and a target of EUR 260 million for this year. The company already expanded to Hungary and Bulgaria and targets new markets. “We have an accelerated development rate and we will help transform Romania in a regional center for Internet and technology,” said Tudor Manea, vice-president and human resources and technology director for eMAG. The eMAG platform is owned by Dante International SA, which has South-African investment fund Naspers as its majority shareholder. The other shareholder of the firm is local entrepreneur Iulian Stanciu, who is also the company’s CEO.

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