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Yandex

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Yandex
Native name
Яндекс
Company typePublic company
Nasdaq: YNDX, MCX: YNDX
IndustryInternet
Search engine
Founded1997; 27 years ago (1997) (Yandex search launched by CompTek)
2000 (Yandex company founded)
FounderArkady Volozh
Arkady Borkovsky
Ilya Segalovich
Headquartersul. Lva Tolstogo, 16, Moscow, Russia, 119021
Area served
Russia, Turkey, Kazakhstan, Belarus, Uzbekistan, Azerbaijan, Georgia and Armenia
Key people
Arkady Volozh, CEO
ProductsAlisa (virtual assistant)
Yandex Search
Yandex Data Factory
Yandex.Direct
Yandex Disk
Yandex.Mail
Yandex Browser
Yandex Maps
Yandex.Market
Yandex News
Yandex Music
Yandex Video
Yandex.Map editor
Yandex Money
Yandex.Music
Yandex Panoramas
Yandex.Timetable
Yandex.Traffic
Yandex.Translate
Yandex Taxi
Ya.ru
RevenueIncrease ₽94.1 billion (2017)
28,461,000,000 Russian ruble (2023) Edit this on Wikidata
Increase ₽8.7 billion (2017)
Total assetsIncrease ₽130.183 billion (2017)
Total equityIncrease ₽82.826 billion (2017)
Number of employees
7,445 (2017)
Websiteyandex.ru
Footnotes / references
[1]

Yandex N.V. (/ˈjʌndɛks/; Russian: Яндекс, IPA: [ˈjandəks]) is a multinational corporation specializing in Internet-related services and products. Yandex is an AI company that provides search and information services, eCommerce, transportation, navigation, and other mobile applications in addition to offering online advertising. Nowadays Yandex provides over 70 services.[2][3] Yandex, incorporated in the Netherlands, primarily serves audiences in Russia and the CIS states. Company founders and most of the team members are located in Russia. Сompany has 18 commercial offices worldwide.[4][5]

It is the largest technology company in Russia[6] and the largest search engine on the Internet in Russian, with a market share of over 52%.[7] The Yandex.ru home page is the 4th most popular website in Russia.[8] It also has the largest market share of any search engine in the Commonwealth of Independent States and is the 5th largest search engine worldwide after Google, Baidu, Bing, and Yahoo!.

Yandex' main competitors on the Russian market are Google, Mail.ru, and Rambler.

According to the company, one of its biggest advantages for Russian-language users is the ability to recognize Russian inflection in search queries.[9]

The name "yandex" is a combination of the Russian letter "Я" ("Ya"), meaning "I", and the word "index".

Yandex has invested in companies including Vizi Labs, Face.com, Blekko, Seismotech, Multiship, SalesPredict, and Doc+.[10]

Offices

Yandex has offices in 17 countries.[11]

Yandex launched Yandex Labs in Silicon Valley in 2008,[12] and also in Turkey in 2011.[13]

Yandex opened its first sales office in Europe in Lucerne, Switzerland in 2012 to serve its European advertising clients.[14] In 2014, they also opened a research and development office in Berlin, Germany.[15]

Yandex opened its first office in Shanghai, China during 2015 to work with Chinese companies that work on the Russian language market.[16]

History

Yandex traces its roots to 1990, when Arkady Volozh and Arkady Borkovsky founded Arkadia, a company that developed MS-DOS software for use in patents and goods classification. Their software featured a full-text search with Russian morphology support. In 1993, Arkadia became a subdivision of Comptek International, another company founded by Volozh in 1989.

In 1993, Arkady Volozh and Ilya Segalovich, friends since their school days and by then working together to develop search software,[17] invented the word "Yandex" to describe their search technologies. The name initially stood for "Yet Another iNDEXer".[18] The Russian word "Я" ("Ya") corresponds to the English personal pronoun "I", making "Яndex" a bilingual pun on "index". Another pun is based on the yin and yang contrast (Russian: инь – индекс, ян – яндекс).

Between 1993 and 1996, the company continued developing its search technologies and released software for searching through the Bible.[18]

The Yandex.ru search engine was launched on September 23, 1997 and was publicly presented at the Softool exhibition in Moscow.[19] Initially, the search engine was developed by Comptek. In 2000, Yandex was incorporated as a standalone company by Arkady Volozh.[18]

In 1998, Yandex launched contextual advertisement on its search engine. In 2001, it launched the Yandex.Direct online advertising network.[18]

The company became profitable in November 2002. In 2004, Yandex sales increased to $17 million, up 1000% in 2 years. The net income of the company in 2004 was $7 million. In June 2006, the weekly revenue of Yandex.Direct context ads system exceeded $1 million. The company's accounting has been audited by Deloitte since 1999.

In September 2005, Yandex opened an office in Ukraine[20] and launched www.yandex.ua.[21] In 2007, Yandex introduced a customized search engine for Ukrainian users;[22] Yandex also opened its development center in Kiev in May 2007. In 2008, Yandex extended its presence in Ukraine by increasing bandwidth between Moscow data centers and UA-IX in Ukraine fivefold.[23] In 2009, all services of www.yandex.ua were localized for the Ukrainian market.[24] In 2010, Yandex launched its "Poltava" search engine algorithm for Ukrainian users, based on its MatrixNet technology.[25]

In March 2007, Yandex acquired moikrug.ru, a Russian social networking service.[26]

On June 16, 2008, Yandex acquired SMILink, a Russian road traffic monitoring agency, to merge it with Yandex.Maps services.[27]

On June 20, 2008, Yandex announced the formation of Yandex Labs in Silicon Valley. The main objective of the division is to foster "innovation in search and advertising technology".[12]

In September 2008, Yandex acquired the rights to the Punto Switcher software program, an automatic Russian to English keyboard layout switcher.[28]

In January 2009, Mozilla Firefox 3.5, replaced Google with Yandex as the default search provider for Russian-language builds.[29]

In August 2009, Yandex introduced a player of free legal music in its search results. In September 2010, Yandex launched the Yandex.Music service and significantly extended its music catalogue to 800,000 tracks from 58,000 performers.[30]

On May 19, 2010, Yandex launched an English-only web search engine.[31][32][33]

In September 2010, Yandex invested in a $4.3 million financing round by Face.com.[34] The company was acquired by Facebook in 2012.

In December 2010, Yandex launched Yandex.Start to find startups and to work with them systematically. As a result of the program, Yandex purchased WebVisor's behavior analysis technology in December 2010.[35][36]

On January 26, 2011, Yandex introduced premium placement opportunity in its Business directory; advertisers' local small businesses are highlighted on a map for relevant queries.[37]

On January 27, 2011, the company acquired single sign-in service Loginza.[38]

On May 3, 2011, as part of a disclosure on the "legal and political risks" of investing in Russia, before the listing on NASDAQ, Yandex revealed that it had passed private customer information to the Federal Security Service, including that of users who had donated money via Yandex to an anti-corruption website set-up by Alexei Navalny.[39]

On May 24, 2011, Yandex raised $1.3 billion in an initial public offering on NASDAQ. It was the biggest initial public offering for a dot-com company since Google's offering in 2004.[40] Among the largest investors in Yandex were Baring Vostok Capital Partners, which owned a 30% stake, and Tiger Management, which owned a 15% stake.[41]

In August 2011, Yandex acquired The Tweeted Times, a news delivery startup.[42]

In September 2011, Yandex launched a search engine and a range of other services in Turkey. The company also opened an office in Istanbul.[13]

In September 2011, the company invested in Blekko as part of a $30 million financing round.[43][44]

In November 2011, Yandex acquired SPB Software, a software developer, for $38 million.[45][46]

In June 2012, Yandex acquired a 25% stake in Seismotech, a company that provides services in the area of interpretative processing of seismic data and software development, for $1 million.[47][48]

In March 2013, the company added an English user interface to its translation mobile app.[49]

In July 2013, Mail.Ru started placing Yandex.Direct ads on its search result pages.[50]

In October 2013, Yandex acquired KinoPoisk, the biggest Russian movie search engine.[51][52][53]

In 2013, Yandex became the largest media property in Russia by revenue.[54]

In February 2014, Yandex invested several million dollars in MultiShip.[55][56]

In March 2014, Yandex acquired Israeli geolocation startup KitLocate and opened a research and development office in Israel.[57][58][59]

In April 2014, a movie called Startup, about the history of Yandex was released.[60]

In June 2014, Yandex acquired Auto.ru, an online marketplace and classified advertising website for automobiles, for $175 million.[61][62]

In December 2015, Yandex acquired Agnitum, an internet security company.[63]

On June 1, 2017, Yandex closed its offices in Kiev and Odessa, Ukraine after the Security Service of Ukraine raided the offices and accused the company of illegally collecting Ukrainian users’ data and sending it to Russian security agencies.[64]

On June 6, 2017, the company invested in a $5 million financing round by Doc+.[65]

On October 10, 2017, Yandex introduced its intelligent personal assistant, Alisa (Alice) for Android, iOS, and Microsoft Windows.[66][67][68]

In December 2017, the company acquired Foodfox, a food delivery service.[69]

In 2017, within the framework of a joint anti-phishing project of the Bank of Russia and search engine Yandex, a special check mark (a green circle with a tick and 'Реестр ЦБ РФ' (Bank of Russia Register) text box) appeared in the search results, informing the consumer that the website is really owned by a legally registered company licensed by the Bank of Russia.[70][71]

On February 7, 2018, Uber and Yandex NV merged their businesses in Russia, Kazakhstan, Azerbaijan, Armenia, Belarus and Georgia. Uber invested $225 million and owns 36.6% stake the venture while Yandex invested $100 million and owns a 59.3% stake.[72]

On February 16, 2018, the company showed off the first tests of its autonomous cars in Moscow.[73][74]

In May 2018, Sberbank and Yandex completed joint venture deal to develop a B2C eCommerce ecosystem.[75]

See also

References

  1. ^ "Yandex Announces Fourth Quarter and Full-Year 2017 Financial Results" (Press release). Yandex. February 15, 2018.
  2. ^ https://globenewswire.com/news-release/2018/04/25/1486930/0/en/Yandex-Announces-First-Quarter-2018-Financial-Results.html
  3. ^ https://yandex.ru/all
  4. ^ https://en.com-exp.co.il/news/yandex-in-netherlands-has-registered-affiliated-company-called-yandex-europe-b-v.html
  5. ^ https://yandex.com/company/general_info/yandex_today/
  6. ^ "Yandex, Russia's biggest technology company, celebrates 20 years". The Economist. September 30, 2017.
  7. ^ "Liveinternet stats provider, Russian sites visited by Russians".
  8. ^ "Top Sites in Russia". Alexa Internet.
  9. ^ Ioffe, Julia (February 10, 2009). "Google's Russian threat". Fortune.
  10. ^ "Crunchbase: Yandex". TechCrunch.
  11. ^ "Yandex". Yandex.
  12. ^ a b "Yandex Labs to Open in Silicon Valley" (Press release). Yandex. June 20, 2008.
  13. ^ a b "Yandex Launches in Turkey" (Press release). Yandex. September 20, 2011.
  14. ^ "Yandex Opens Offices in Europe" (Press release). GlobeNewswire. March 12, 2012.
  15. ^ "Russia's Yandex to open new office in Europe". Reuters. February 6, 2014.
  16. ^ "Russian Internet company Yandex opens commercial office in Shanghai". TASS. September 10, 2015.
  17. ^ "Emerging Leader: Arkady Volozh & Thomas White International". Thomaswhite.com. May 29, 2012.
  18. ^ a b c d "History". Yandex.
  19. ^ "Yandex Turns 20". Yandex. September 28, 2017.
  20. ^ "Yandex Representative Office Now in Ukraine" (Press release). Yandex. September 6, 2005.
  21. ^ "Yandex Presents www.yandex.ua" (Press release). Yandex. September 20, 2005.
  22. ^ "Yandex Adds Ukrainian Search" (Press release). Yandex. October 2, 2007.
  23. ^ "Yandex Extends its Presence in Ukraine" (Press release). Yandex. August 20, 2008.
  24. ^ "Yandex Learns Languages" (Press release). Yandex. November 19, 2009.
  25. ^ "Yandex Search for Ukraine's Every Region" (Press release). Yandex. July 27, 2010.
  26. ^ "Yandex Acquires Social Networking Web Site MoiKrug.ru" (Press release). Yandex. March 27, 2007.
  27. ^ Andrews, Robert (June 16, 2008). "Russia's Yandex Buys Traffic Info Service SMIlink". GigaOm.
  28. ^ "Yandex Releases Punto 3.0" (Press release). Yandex. September 9, 2008.
  29. ^ Shankland, Stephen (January 9, 2009). "Firefox in Russia dumps Google for Yandex". CNET.
  30. ^ "Enhanced Music Streaming on Yandex" (Press release). Yandex. September 22, 2010.
  31. ^ "Yandex Adds Foreign Content to Its Search Index" (Press release). Yandex. May 19, 2010.
  32. ^ Rao, Leena (May 18, 2010). "Yandex Adds Foreign Content Filter To Search". TechCrunch.
  33. ^ "Yandex opts for latin script to broaden market reach". Russia Today. May 19, 2010.
  34. ^ Wauters, Robin (September 27, 2010). "Facial Recognition Tech Startup Face.com Raises $4.3M From Yandex And Others". TechCrunch.
  35. ^ "Yandex Supports Startups" (Press release). Yandex. December 24, 2010.
  36. ^ Butcher, Mike (December 24, 2010). "Yandex Acquires WebVisor's Behavior Analysis Technology, Team". TechCrunch.
  37. ^ "Yandex Offers Geo-targeted Ads to Businesses" (Press release). Yandex. January 26, 2011.
  38. ^ O'Hear, Steve (January 27, 2011). "Yandex Acquires Single Sign-In Service Loginza". TechCrunch.
  39. ^ Drobinina, Ekaterina (May 3, 2011). "Russian search-engine Yandex passed information to FSB". BBC News.
  40. ^ Rusli, Evelyn M. (May 24, 2011). "Yandex Shares Soar 55% in Market Debut". The New York Times.(subscription required)
  41. ^ Popova, Olga; Kiselyova, Maria; Mosolova, Tanya (May 20, 2008). "Russia's Yandex plans up to $2 bln NY IPO - source". Reuters.
  42. ^ Wauters, Robin (August 26, 2011). "Russian Search Giant Yandex Acquires Social News Startup 'The Tweeted Times'". TechCrunch.
  43. ^ Rao, Leena (September 29, 2011). "Search Engine Blekko Raises $30 Million From Russian Search Giant Yandex And Others". TechCrunch.
  44. ^ "Blekko Closes $30 Million Funding Round; Welcomes Yandex as Strategic Investor" (Press release). Business Wire. September 29, 2011.
  45. ^ Shatalova, Ekaterina (November 28, 2011). "Yandex Acquires SPB Software Developer to Expand Mobile Products". Bloomberg L.P.
  46. ^ Empson, Rip (November 28, 2011). "Russian Search Giant Yandex Acquires Mobile Software Developer SPB For $38 Million". TechCrunch.
  47. ^ "Yandex Supports Geophysical Exploration" (Press release). Yandex. June 22, 2012.
  48. ^ Peak, Krystal (June 22, 2012). "Yandex buys 25% stake in seismic data processing biz". Vator.
  49. ^ Lomas, Natasha (March 26, 2013). "Yandex Adds English UI To Its Translation App To Widen Its International Appeal". TechCrunch.
  50. ^ "Mail.ru, Yandex agree to place ads from Yandex.Direct on search engine". Interfax. July 25, 2013.
  51. ^ "Yandex Acquires KinoPoisk" (Press release). GlobeNewswire. October 15, 2013.
  52. ^ Lunden, Ingrid (October 15, 2013). "Yandex Buys KinoPoisk, 'Russia's IMDb', To Move Into Film Search And Recommendation". TechCrunch.
  53. ^ Kiselyova, Maria (October 16, 2013). "Yandex buys Russian movie review site". Reuters.
  54. ^ d’Amora, Delphine (April 10, 2014). "Internet Titan Yandex Leads State-Owned Channel One for 2013 Revenue". The Moscow Times.
  55. ^ "Yandex invests in MultiShip: A perfect match on the Russian e-commerce service scene". VentureBeat. February 1, 2014.
  56. ^ "Yandex invests in online logistics provider". Reuters. February 1, 2014.
  57. ^ "Yandex Acquires KitLocate" (Press release). GlobeNewswire. March 18, 2014.
  58. ^ Lomas, Natasha (March 18, 2014). "Russian Search Giant Yandex Acquires Low-Power Mobile Geolocation Startup KitLocate". TechCrunch.
  59. ^ Shamah, David (March 21, 2014). "Yandex to open Israeli R&D centre after KitLocate acquisition". ZDNet.
  60. ^ POTOTSKY, DAN (April 3, 2014). "Telling the Yandex story: 'Startup' gets off the ground". Russia Beyond.
  61. ^ "Yandex to Acquire Auto.ru" (Press release). GlobeNewswire. June 16, 2014.
  62. ^ Lunden, Ingrid (June 16, 2014). "Yandex Acquires Auto.Ru For $175M, Adding Car Classifieds To Its Search Business". TechCrunch.
  63. ^ "Yandex acquires software developer Agnitum". December 9, 2015.
  64. ^ Soldatkin, Vladimir; Stubbs, Jack (June 1, 2017). "Russia's Yandex to close offices in Ukraine's Odessa and Kiev". Reuters.
  65. ^ "DOC+, the Digital Health Company, Raises $5M From Yandex and Baring Vostok" (Press release). PRNewswire. June 6, 2018.
  66. ^ "Say "Privet" to Alice, Yandex's Intelligent Assistant". Yandex. October 10, 2017.
  67. ^ Heater, Brian (October 10, 2017). "Yandex introduces Alice, an Alexa-like assistant that speaks Russian". TechCrunch.
  68. ^ Locklear, Mallory (October 10, 2017). "Meet Alice: The virtual assistant from Russian search giant Yandex". Engadget.
  69. ^ Teterevleva, Anastasia; Devitt, Polina (December 25, 2017). "Russia's Yandex.Taxi buys food delivery service Foodfox". Reuters.
  70. ^ "Bank of Russia to mark microfinance organisations on the Internet | Банк России". www.cbr.ru. Retrieved March 6, 2018.
  71. ^ "Insurers' websites receive first marks | Банк России". www.cbr.ru. Retrieved March 6, 2018.
  72. ^ "Yandex and Uber Complete the Combination of Their Ride-Sharing Businesses in Russia and Neighboring Countries" (Press release). GlobeNewswire. February 7, 2018.
  73. ^ Etherington, Darrell (February 16, 2018). "Yandex shows off the first tests of self-driving cars on Moscow roads". TechCrunch.
  74. ^ Hawkins, Andrew J. (February 16, 2018). "Watch this self-driving car navigate the snowy streets of Moscow". The Verge.
  75. ^ Editorial, Reuters. "Russia's Yandex sets up e-commerce venture with Sberbank". U.S. Retrieved May 21, 2018. {{cite news}}: |first= has generic name (help)
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