Russian Yandex Moves Closer to IPO
May 30, 2008
Nick Wilsdon
Russian-based Search Marketer and Outsource Resource
About Articles Social Speaking Consulting
The Moscow Times reports that Yandex, the largest search engine in Russia, plans to raise $1.5b to $2b in a New York IPO this fall. Their source has said that these expectations are based on a preliminary valuation of Yandex at $5 billion.
Meanwhile Google is looking to improve their performance in Russia, Google co-founder Sergei Brin said in an interview in Moscow last week.
“Yandex received about twice as many searches in Russia per day than Google”, Brin said, “We think our search is better, but [Yandex] also has many talented people”.
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