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Yandex IPO Plan On Track

Files under: News, Tech, Web 2.0
Posted by: Quintura @ 13:44 [3. 09. 08]

The IPO of the leading Russian internet search firm Yandex, which holds 55 percent share of searches in Russia, was not scheduled for 2009 as it was suggested by Profy. The Russian internet insider news site Roem.ru reported that it was just a market expectation from financial company Finam. The information did not come from Yandex itself.

The company was expected to raise up to $2 billion at IPO on NASDAQ in fall 2008.

The leading Russian search engine Yandex, which has recently changed its logo to Cyrillic, has just launched a massive outdoor advertising campaign in Russian cities. The company also released its own instant messenger Ya.Online to keep users longer on its site.

Founded in 1997, Yandex reported revenues of $167 million in 2007. Its operating profit was estimated at almost $100 million last year. The company, which has more than 1,500 employees, shall increase its revenues to more than $300 million in 2008. Over the past year, Yandex acquired a road traffic information service SMILink and business social network MoiKrug.

According to MindShare Interaction, the Russian online advertising spending is expected to reach over $600 million in 2008.

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5 Responses to «Yandex IPO Plan On Track»

  1. 1 Alt Search Engines » Blog Archive » Yandex expected to raise $2 billion in fall IPO Quintura @ 13:44 [3. 09. 08]

    [...] which holds more than a half of all web searches made in Russia, is on track in 2008, according to Quintura blog. The company was expected to raise up to $2 billion at IPO on NASDAQ in fall [...]

  2. 2 Yandex IPO: forget about 2009, still on track for this year Quintura @ 13:44 [3. 09. 08]

    [...] The day before yesterday, rumors spread around the web about this year’s biggest tech IPO. Russian search engine Yandex wouldn’t want to go to NASDAQ this year, due to the unstable political situation in Russia. During a press conference, Russia’s most important investor sort of canceled the deal. As it turns out, it was a nice piece of wishful thinking. The Yandex IPO plan is still on track. [...]

  3. 3 Svetlana Gladkova Quintura @ 13:44 [3. 09. 08]

    I guess many of us (I mean, Russian bloggers and journalists) were misled by Finam since we thought they were the reputable source that should have been trusted enough. And while I did not mention it was an official announcement from Yandex, I still wanted to believe it myself – simply because I still think that going public this year is not the best option for Yandex.

  4. 4 Quintura blog » Blog Archive » Early Success of Quintura Site Search Rewarded With New Funding Quintura @ 13:44 [3. 09. 08]

    [...] Forbes runs several opinions if Google changed the world. Google turns ten this weekend. So does Yandex. I wonder what people will tell about Quintura (which turns three) in seven years from [...]

  5. 5 Yandex IPO delayed after all, what a surprise Quintura @ 13:44 [3. 09. 08]

    [...] tip, as always when it comes to Russian news, Yakov Sadchikov from Quintura (read about his secret here). I hope you like that post! The Next Web Blog covers start-up news [...]