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Yandex 2008 Revenues Up 80%, Keep Growing in 2009

Files under: News
Posted by: Quintura @ 20:31 [5. 02. 09]

I have attended the session on Internet advertising at The Russia Forum 2009 today. The panel included CEOs of leading Russian Internet, media and advertising companies: Yandex, Rambler, Odnoklassniki.ru, Kommersant Publishing House, IMHO VI, and the others. The forum is organized by leading Russian investment bank, Troika.

Yandex CEO Arkady Volozh has revealed at the forum that Yandex generated revenues of more than $300 million in 2008, up 80 percent from 2007. Most of the revenues (more than 85 percent) came from search ads on Yandex own sites as well as Yandex contextual ads on partner sites. The number of advertisers on Yandex reached 100 thousand, up 50 percent from 2007 (because of medium and small size advertisers). Yandex revenues on partner web-sites on the Yandex Advertising Network tripled in 2008.

Yandex CEO also said that Yandex current revenues are on par with 2008 revenues for the same period in U.S. dollar terms (which shall imply that the revenues are actually growing by over 20 percent year-on-year in Russian Ruble terms). The Yandex search volume keeps increasing in 2009 in spite of economic downturn.

Founded in late 1990s, Yandex has more 54 percent share of Russian search market vs. Google’s 32 percent share. Yandex has more than 1,700 employees in Russia, Ukraine and USA.

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