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Files under: News, Tech
Posted by: admin @ 09:57 [28. 04. 11]
 The leading Russian search engine company Yandex will begin pre-marketing its IPO in Moscow on May 3, according to Reuters. The IPO is planned at NASDAQ in June 2011. The IPO can put Yandex valuation to as high as $9 billion. The company may sell 10% to 20% stake at IPO.
The Yandex IPO is managed by investment banks Deutsche Bank, Morgan Stanley and Goldman Sachs. The private equity funds managed by Baring Vostok Capital Partners (BVCP), Tiger Global, Runet II, Almaz Capital and UFG own 61% shares in Yandex. 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.
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 ca. $ 410 million. The contextual advertising accounted for 88% of Yandex revenue. Yandex‘ monthly audience reached over 50 million users. Back in April 2000, Ru-Net Holdings, consortium of investors led by BVCP and UFG, invested $5.3 million for 35.7% shares in Yandex.
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: yandex, Yandex IPO, Yandex revenue, Yandex valuation
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