Quintura Kids Quintura Cook Quintura Search


Русский | English

Yandex IPO to Make Dozens of Yandex Employees Millionaires

Files under: News, Tech
Posted by: admin @ 04:50 [16. 04. 11]

The Yandex IPO, which is managed by investment banks Deutsche Bank, Morgan Stanley and Goldman Sachs, is planned at NASDAQ in summer 2011. The IPO can put Russia’s leading search engine and contextual advertising company Yandex valuation to as high as $9 billion, wrote WSJ. The company plans to sell 10% to 20% stake at IPO. According to Yandex CEO Arkadiy Volozh, several dozens of Yandex employees will become millionaires after IPO. The Yandex management and employees own 24% shares in the company. Some 10% shares is held by private investors and former employee. The holders of Yandex options own 5% shares in the company.

The private equity funds managed by Baring Vostok Capital Partners (BVCP), Tiger Global, Runet II, Almaz Capital and UFG own 61% shares in Yandex. In April 2000, Ru-Net Holdings, consortium of investors led by BVCP and UFG, invested $5.3 million for 35.7% shares in Yandex.

Founded in 2000, Yandex has 64% search market share in Russia. Yandex also operates in Ukraine and Kazakhstan. In 2010, Yandex revenue increased 43% year-on-year to 12.5 billion Roubles (US$ 410 million). The contextual advertising accounted for 88% of Yandex revenue. The number of Yandex advertisers was up 40% y-o-y to over 180,000. Yandex‘ monthly audience reached over 50 million users.

In November 2010, the Russian internet company Mail.ru Group completed $1 billion IPO in London, valuing Mail.ru Group at $5.7 billion.

Tags: , , , , ,

Comments are closed