UPDATED 11:40 EDT / NOVEMBER 29 2010

Yandex After IPO, Russia on a Global Tear

Following the footsteps of its fellow Russian internet giant Mail.ru, Yandex, Russia’s search engine leader is considering to float its Initial Public Offer during first half of year 2011. The IPO of Mail.ru was a good success and it managed to raise around 1 billion by posing approx 32.3 million shares at $27.7 per share. Besides this IPO, the internet giant is also trying to make some acquisitions and play a significant role into the globalizing economy.

Yandex is expected to raise $1.56 billion from this IPO with listing in London or NASDAQ. Surprisingly, Yandex spokespersons are still denying to give any information about the issue.

“As a growing company, we continually evaluate various financing and strategic alternatives, but it is our policy not to comment on our plans in this regard”, said a Yandex spokesperson.

It might be because the company planned an issue earlier in 2008 also, but indefinitely postponed the plan due to global economic turmoil prevailing that time. The floating of this IPO will definitely be significant as the Russian technology scene is growing rapidly, and attracting a lot of financial gains & interest. With this issue, they’ll want to be investing more, making acquisitions and growing on a global scale .

To demonstrate the same, this Initial Public Offering by Mail.ru has made it Europe’s largest listed internet business, as reported by a Reuters report. The company is already flourishing in Japanese and Chinese markets and the floating of this issue clearly reflects its interest in US market.

Russia seems particularly interested in the social sector, as advertising is reaping the rewards from its investments these past few years.  Yandex specializes in contextual advertising, which will be a good move for the company in terms of global expansion.

Another indicative development in the industry is investment in Facebook, Groupon and Zynga, by Digital Sky Technologies (DST), a Russian internet company. Moreover, it manages to get a whopping investment of $388 million from Myraid International Holdings and $300 million from Tencent, Chinese internet company.


A message from John Furrier, co-founder of SiliconANGLE:

Show your support for our mission by joining our Cube Club and Cube Event Community of experts. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts.

Join Our Community 

Click here to join the free and open Startup Showcase event.

“TheCUBE is part of re:Invent, you know, you guys really are a part of the event and we really appreciate your coming here and I know people appreciate the content you create as well” – Andy Jassy

We really want to hear from you, and we’re looking forward to seeing you at the event and in theCUBE Club.

Click here to join the free and open Startup Showcase event.