Yandex Postponing IPO Until Economic Recovery
Russian search engine Yandex receives 50 million searches per day. These search numbers includes those conducted on Mail.ru, Quintura.ru, and Tut.by. This also includes sites that are powered by Yandex.XML. This means that Yandex conducts 1.5 billion searches per month, making it to the 6th largest search engine property.
Yandex’s Advertising Network reaches about 10 million users. This is an increase of 80% from Sept. 2007. Yandex’s Advertising partners include Livejournal.com, Mail.ru, Aport.ru, Gogo.ru, Quintura.ru, and Mamba.ru. Yandex’s revenue in 2007 was $167 million.
Yandex decided to postpone their IPO until the economy recovers. The IPO was planned for some time in the second half of 2008. Internet Search Investments and Baring Vostok Capital Partners owns 35% of Yandex. Tiger Technologies owns 15% of the company. Mail.ru also is postponing their IPO.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry