Yandex: The Russian Google

Yandex: The Russian Google Yandex is the top search engine in Russia and it is no wonder that it is often referred to as the “Russian Google”. In 1998, the year when Google was founded, the site displayed the first contextual advertising. Yandex turned into a standalone company in 2000. Since then, the revenues of the company have constantly grown year after year. Its share of the search market in Russia has also grown in most years, to the current market share of 60 percent. The second position is hold by Google with a market share of 26 percent. Yandex claims it has several advantages in the detriment of Google, such as native knowledge over the morphology of the Russian language, the first-mover advantage (Google entered the Russian market in 2006), the fact that Yandex takes in consideration the source city of the search instead of the source country. Lastly, Yandex launched back in 2009 the Matrixnet search platform that considers thousands of factors. Similarly to Google, Yandex is much more than a simple search engine, as it offers Yandex. Mail, Yandex. Maps, Yandex. News and Yandex. Market. A Russian to English along with English to Russian keyboard layout switcher is also made available. It operates Yandex Labs in the San Francisco Bay area to promote innovation in advertising and search technology. A free legal music player is offered by Yandex. Yandex offers an English language search engine, photo sharing and such professional networking services as LinkedIn and Flickr. It is present in other countries as well, such as Belarus, Kazakhstan, Turkey and Ukraine and has increased its market share in each of these countries in the last couple of years. It also offers Yandex. Money, the biggest Russian electronic payment system, which is similar to PayPal. A debit card linked to Yandex. Money has been recently launched. Its revenues are generated by advertising in 98% with a profit margin (after-tax) of 33%. It registered excellent earning and sales growth for several years. In May 2011, Yandex went public with an offering price of $25; on the same day, the stock reached a peak price of $42. Now, seven months later is at $17. The numbers for the first quarter are good, reporting a revenue growth of 51%. However, its market share slightly lessened, determining some jumpy investors to sell. Yandex is without any doubts an attractive investing opportunity as has a growth twice of Google’s and includes modest institutional investment.


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