Yandex N.V. (Russian: Яндекс) is a multinational corporation primarily for Russian and Russian-language users,[4] providing 70 Internet-related products and services, including transportation, search and information services, e-commerce, navigation, mobile applications, and online advertising.[5][2][clarification needed]

Yandex N.V.
Native name
Яндекс
TypeNaamloze vennootschap
NasdaqYNDX, MCXYNDX
IndustryInternet
Search engine
Founded23 September 1997; 24 years ago (23 September 1997) (Yandex search launched by CompTek)
2000 in Cyprus (Yandex incorporated)
2007 (reincorporation in the Netherlands)
FounderArkady Volozh
Arkady Borkovsky
Ilya Segalovich
Headquarters16 Lva Tolstogo Street, Moscow, Russia, 119021
(Domiciled in Schiphol Boulevard 165, Schiphol, the Netherlands)
Area served
Russia, Kazakhstan, Belarus, Uzbekistan, Azerbaijan, Georgia, Armenia, Israel, Turkey and Estonia
Ukraine (until 2017)
Key people
Arkady Volozh (was CEO but resigned after the EU sanctioned him for "materially or financially" supporting Russia's military invasion of Ukraine)
Tigran Khudaverdyan (deputy CEO)
ProductsList of Yandex products and services
Revenue$Lua error: Module:Format_price:43: Format price error: cannot parse value " <strong class="error">Unknown country code for year 2021: Russia </strong>

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  • The 2.44 exchange rate listed by the World Bank for Belarus, seems to have been divided by 10,000. It has been changed here by the relation: 1 USD = 24400 Belarusian rubles.
  • The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate is used also here.
  • The 1.0 exchange rate listed by the World Bank for Liberia, seems to be that of the US dollar, rather than that of the Liberian Dollar, whose exchange rate used here is that indicated by the CIA - as the latest rate as of 2017 - at US$1 = 109.4 Liberian Dollar.
  • Venezuela's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • French Polynesia's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • Taiwan's data are not available in the World Bank website. They are obtained from the website Yearly Average Currency Exchange Rates, and used here. ".[1] (2021)
$Lua error: Module:Format_price:43: Format price error: cannot parse value " <strong class="error">Unknown country code for year 2021: Russia </strong>

'"`UNIQ--h-1--QINU`"'Notes

  • The 2.44 exchange rate listed by the World Bank for Belarus, seems to have been divided by 10,000. It has been changed here by the relation: 1 USD = 24400 Belarusian rubles.
  • The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate is used also here.
  • The 1.0 exchange rate listed by the World Bank for Liberia, seems to be that of the US dollar, rather than that of the Liberian Dollar, whose exchange rate used here is that indicated by the CIA - as the latest rate as of 2017 - at US$1 = 109.4 Liberian Dollar.
  • Venezuela's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • French Polynesia's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • Taiwan's data are not available in the World Bank website. They are obtained from the website Yearly Average Currency Exchange Rates, and used here. ".[1] (2021)
-$Lua error: Module:Format_price:43: Format price error: cannot parse value " <strong class="error">Unknown country code for year 2021: Russia </strong>

'"`UNIQ--h-2--QINU`"'Notes

  • The 2.44 exchange rate listed by the World Bank for Belarus, seems to have been divided by 10,000. It has been changed here by the relation: 1 USD = 24400 Belarusian rubles.
  • The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate is used also here.
  • The 1.0 exchange rate listed by the World Bank for Liberia, seems to be that of the US dollar, rather than that of the Liberian Dollar, whose exchange rate used here is that indicated by the CIA - as the latest rate as of 2017 - at US$1 = 109.4 Liberian Dollar.
  • Venezuela's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • French Polynesia's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • Taiwan's data are not available in the World Bank website. They are obtained from the website Yearly Average Currency Exchange Rates, and used here. ".[1] (2021)
Total assets$Lua error: Module:Format_price:43: Format price error: cannot parse value " <strong class="error">Unknown country code for year 2021: Russia </strong>

'"`UNIQ--h-3--QINU`"'Notes

  • The 2.44 exchange rate listed by the World Bank for Belarus, seems to have been divided by 10,000. It has been changed here by the relation: 1 USD = 24400 Belarusian rubles.
  • The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate is used also here.
  • The 1.0 exchange rate listed by the World Bank for Liberia, seems to be that of the US dollar, rather than that of the Liberian Dollar, whose exchange rate used here is that indicated by the CIA - as the latest rate as of 2017 - at US$1 = 109.4 Liberian Dollar.
  • Venezuela's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • French Polynesia's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • Taiwan's data are not available in the World Bank website. They are obtained from the website Yearly Average Currency Exchange Rates, and used here. ".[1] (2021)
Total equity$Lua error: Module:Format_price:43: Format price error: cannot parse value " <strong class="error">Unknown country code for year 2021: Russia </strong>

'"`UNIQ--h-4--QINU`"'Notes

  • The 2.44 exchange rate listed by the World Bank for Belarus, seems to have been divided by 10,000. It has been changed here by the relation: 1 USD = 24400 Belarusian rubles.
  • The 1.0 exchange rate listed by the World Bank for Cuba, seems to be that of the US dollar (the "Cuban convertible Peso"), rather than that of the Cuban Peso - which was pegged to the US dollar at US$1 = 24 Cuban Peso on 1.1.2021. For details, see: Cuban Peso. This rate is used also here.
  • The 1.0 exchange rate listed by the World Bank for Liberia, seems to be that of the US dollar, rather than that of the Liberian Dollar, whose exchange rate used here is that indicated by the CIA - as the latest rate as of 2017 - at US$1 = 109.4 Liberian Dollar.
  • Venezuela's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • French Polynesia's data in the World Bank website (as of 2014) are too old. The more updated estimation, as of 2017, is obtained from the website Yearly Average Currency Exchange Rates, and used here.
  • Taiwan's data are not available in the World Bank website. They are obtained from the website Yearly Average Currency Exchange Rates, and used here. ".[1] (2021)
Number of employees
10,227 (2020)
Websiteyandex.com
Footnotes / references
[2][3]

The firm is registered in Schiphol, the Netherlands as a naamloze vennootschap (Dutch public limited company),[6] but the company founders and most of the team members are located in Russia. It primarily serves audiences in Russia and the Commonwealth of Independent States, and also has 30 offices worldwide.[7][8]

The firm is the largest technology company in Russia[9] and the second largest search engine on the Internet in Russian, with a market share of over 42%.[10] It also has the largest market share of any search engine from Europe and the Commonwealth of Independent States and is the 5th largest search engine worldwide after Google, Bing, Yahoo!, and Baidu.[11]

Its main competitors on the Russian market are Google, VK, and Rambler.

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HistoryEdit

NameEdit

In 1993, Arkady Volozh and Ilya Segalovich, friends since their school days and by then working together to develop search software,[12] invented the word "Yandex" to describe their search technologies. The name initially stood for "Yet Another iNDEXer".[13] However, this is also a bilingual pun on "index" since "Я" ("ya") means "I" in Russian. Another pun is based on the yin and yang contrast (Russian: инь – индекс, ян – яндекс).

DevelopmentEdit

Between 1993 and 1996, the company continued developing its search technologies and released software for searching the Bible.[13] The Yandex.ru search engine was launched on September 23, 1997, and was presented at the Softool exhibition in Moscow.[14] Initially, the search engine was developed by Comptek. In 2000, Yandex was incorporated as a standalone company by Arkady Volozh.[13]

In 1998, Yandex launched contextual advertisement on its search engine.

In September 2005, it opened an office in Ukraine[15] and launched www.yandex.ua.[16] In 2007, Yandex introduced a customized search engine for Ukrainian users;[17] Yandex also opened its development center in Kyiv in May 2007. In 2008, Yandex extended its presence in Ukraine by increasing bandwidth between Moscow data centers and UA-IX in Ukraine fivefold.[18] In 2009, all services of www.yandex.ua were localized for the Ukrainian market.[19] In 2010, Yandex launched its "Poltava" search engine algorithm for Ukrainian users, based on its MatrixNet technology.[20]

On June 20, 2008, it announced the formation of Yandex Labs in Silicon Valley, with an objective to foster "innovation in search and advertising technology".[21]

Products and servicesEdit

In 2001, the company launched the Yandex.Direct online advertising network.[22]

In January 2009, Mozilla Firefox 3.5, replaced Google with Yandex as the default search provider for Russian-language builds.[23]

In August 2009, the company had introduced a player of free legal music in its search results.

In September 2010, Yandex launched Yandex Music, a music streaming service, with a catalogue of 800,000 tracks from 58,000 performers.[24]

On May 19, 2010, it launched an English-only web search engine.[25][26]

In March 2013, the company added an English user interface to its translation mobile app.[27]

In July 2013, Mail.Ru started placing Yandex Direct ads on its search result pages.[28]

On October 10, 2017, the company introduced its intelligent personal assistant, Alisa (Alice) for Android, iOS, and Microsoft Windows.[29][30][31]

On February 16, 2018, the company showed off the first tests of its autonomous cars in Moscow.[32][33]

AcquisitionsEdit

In March 2007, it acquired Russian social networking service moikrug.ru.;[34] on June 16, 2008, Yandex acquired SMILink, a Russian road traffic monitoring agency, to merge with Yandex. Maps services.[35] In September 2008, the company acquired the rights to the Punto Switcher software program, an automatic Russian to English keyboard layout switcher.[36]

In September 2010, it invested in a $4.3 million financing round by Face.com.[37] The company was acquired by Facebook in 2012. In December 2010, the firm launched Yandex.Start to find startups and work with them systematically, and purchased WebVisor's behavior analysis technology in December 2010.[38][39] In September 2011, it invested in Blekko as part of a $30 million financing round.[40][41] In November 2011, it acquired software developer SPB Software for $38 million.[42][43] In June 2012, it acquired a 25% stake in Seismotech, for $1 million.[44][45] On January 26, 2011, it introduced premium placement opportunity in its Business directory in which advertisers' local small businesses are highlighted.[46] On January 27, 2011, the company acquired single sign-in service Loginza.[47]

In August 2011, Yandex acquired The Tweeted Times, a news delivery startup.[48] In September 2011, it launched a search engine and a range of other services in Turkey, opening an office in Istanbul.[49]

In October 2013, the company acquired KinoPoisk, the biggest Russian movie search engine.[50][51][52] In February 2014, Yandex invested several million dollars in MultiShip.[53][54] In March 2014, it acquired Israeli geolocation startup KitLocate and opened a research and development office in Israel.[55][56][57] In June 2014, it acquired Auto.ru, an online marketplace and classified advertising website for automobiles, for $175 million.[58][59] In December 2015, it acquired Internet security company Agnitum .[60] On June 6, 2017, the company invested in a $5 million financing round by Doc+.[61] In December 2017, it acquired food delivery Foodfox.[62] 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 in the venture while Yandex invested $100 million and owns a 59.3% stake.[63]

In May 2018, Sberbank and Yandex completed a joint venture deal to develop a B2C eCommerce ecosystem.[64] In October 2018, Yandex acquired Edadil (Russian: Едадил, lit. "grocery deals"), a deal aggregator service.[65]

In June 2021, Yandex, VTB Bank, LANIT Group and computer hardware producer Gigabyte founded a joint venture to start producing servers in Russia in 2022.[66] In October 2021, construction of a new plant in Ryazan Oblast was launched with 1 billion roubles during the first stage of investments. The new plant will produce servers, data storage systems, gateways and smart equipment under “Openyard” brand.[67] In January 2022, Yandex acquired "eLama", digital advertising platform, waiting for the approvement from Federal Antimonopoly Service.[68] That same month Yandex has also bought "BandLink" music service.[69]

FinancesEdit

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.

On May 24, 2011, it raised $1.3 billion in an initial public offering on NASDAQ, the biggest initial public offering for a dot-com company since Google's offering in 2004.[70] Among the largest investors were Baring Vostok Capital Partners, which owned a 30% stake, and Tiger Management, which owned a 15% stake.[71]

In 2013, Yandex became the largest media property in Russia by revenue.[72]

SecurityEdit

On June 1, 2017, Yandex closed its offices in Kyiv 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.[73] The firm denied any wrongdoing. In May 2017, all Yandex services were banned in Ukraine by Presidential Decree No. 133/2017.[74]

In October and November 2018, Yandex was targeted in a cyberattack using the Regin malware, aimed at stealing technical information from its research and development unit on how users were authenticated.[75] An investigation by Kaspersky Lab attributed the hacks to Five Eyes intelligence agencies.[75]

In June 2019, RBC News reported that Yandex had refused a request by the Russian Federal Security Service (FSB) under the Yarovaya law to surrender encryption keys that could decrypt the private data of its e-mail service and cloud storage users. The company argued that it was impossible to comply with the relevant law without compromising its users' privacy.[76] Maxim Akimov, Deputy Prime Minister of Russia, said that the government will take action to relieve FSB pressure on the company.[77] Alexander Zharov, head of the Federal Service for Supervision of Communications, Information Technology and Mass Media, subsequently said that Yandex and the FSB had reached an agreement where the company would provide the required data without handing over the encryption keys.[78]

In February 2021 Yandex admitted that one of their system administrators with access rights to Yandex's email service had enabled unauthorized access, leading to almost 5,000 Yandex email inboxes being compromised.[79]

GamesEdit

Yandex.Games is Internet gaming platform made by Yandex. Available in desktop and mobile versions.[citation needed]

As of January 2022, the number of games included in the catalog exceeded 7000, with more than 11 million players a month.[80]

The platform provides two types of income: advertising and in-app purchases. There is also an in-game currency called "Yang".[80]

Developers add their games to the catalog independently and edit them in the future. All games are moderated. Mandatory requirements include integration with the Yandex.Games SDK, support for HTTPS and offline Service Worker mode.[81] Game developers follow the updates of the platform in the blog. Gaming content is provided by companies all over the world (e.g. Dutch media platform Azerion[82]).

In addition to a wide system of user ratings and reviews, the service uses complex algorithms to create personalized collections: games that have already been played, or those that are likely to be played.[83]

On April 28, 2022, Yandex announced that it sold News and Blogging Products to VK.

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See alsoEdit

ReferencesEdit

  1. ^ a b c d e "Financial Reports Q4" (PDF). Yandex. February 15, 2022. p. 21. Retrieved February 15, 2022.
  2. ^ a b "Все сервисы Яндекса". Яндекс. Archived from the original on January 31, 2021. Retrieved May 23, 2018.
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External linksEdit