Yandex the Russian Google Listed on NASDAQ

Yandex, the Russian search engine, entered the stock market on Tuesday and raised nearly $ 1.4 billion on Nasdaq, the Internet giant, nicknamed the “Russian Google” became the largest IPO since Google in 2004. For its first listing, the title Yandex soared 55%, closing at 38.84 dollars. This introduction thereby enhances the group around 8 billion dollars. In 2000, Yandex was in deficit and posted $ 2 million loss to a turnover of 72 000 dollars. Last year the group made 445 million in sales for a profit of $ 135 million.

This introduction and relaunch the debate on the existence of a new internet bubble, after the introduction of LinkedIn record last week (read: “The IPO record LinkedIn Is she announces a new Internet bubble?” , published on 20/05/11). This success also demonstrates the presence and knowledge of Eastern Europe, particularly Russia, in the professions of the Internet, in constant growth in this country. First visited site in Russia with 38 million unique visitors in March, the site now displays international ambitions. Quoted by Reuters , the founder, Iliad Segalovitch, said “having ideas” and considered “international expansion”. What is certain is that the money raised will be used for potential acquisitions.


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