Yandex N.V.
Native name
Яндекс
TypeNaamloze vennootschap
NasdaqYNDX, MCXYNDX
IndustryInternet
Search engine
Founded23 September, 1997; 23 years ago (23 September, 1997) (Yandex search launched by CompTek)
2000 (Yandex company founded)
FounderArkady Volozh
Arkady Borkovsky
Ilya Segalovich
Headquarters16 Lva Tolstogo Street, Moscow, Russia, 119021
(Registered in Schiphol, the Netherlands)
Area served
Russia, Kazakhstan, Belarus, Uzbekistan, Azerbaijan, Georgia, Armenia, Israel, Turkey and Estonia
Ukraine (until 2017)
Key people
Arkady Volozh (CEO)
Tigran Khudaverdyan (deputy CEO)
ProductsAlice (virtual assistant)
Yandex.Search
Yandex.Direct
Yandex.Disk
Yandex.Mail
Yandex.Browser
Yandex.Maps
Yandex.Market
Yandex.Eats
Yandex.Metro
Yandex.News
Yandex.Video
Yandex.Map editor
Yandex.Money
Yandex.Music
Yandex.Afisha
Yandex.Panoramas
Yandex.Timetable
Yandex.Traffic
Yandex.Translate
Yandex.Taxi
Ya.ru
Revenue$3.02 billion[2] (2020)
$2.79 billion[2] (2020)
$173 million[3] (2019)
Total assets$7.16 billion[2] (2020)
Total equity$4.51 billion[2] (2020)
Number of employees
10,227 (2020)
Websiteyandex.ru, yandex.com

Yandex N.V. (/ˈjʌndɛks/; Russian: Яндекс, IPA: [ˈjandəks]) is a Russian multinational corporation providing over 70 Internet-related products and services, including transportation, search and information services, e-commerce, navigation, mobile applications, and online advertising. [4][5]

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 18 commercial 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, Baidu, Bing, and Yahoo!.[citation needed]

Its main competitors on the Russian market are Google, Mail.ru, and Rambler. According to Yandex, one of its biggest advantages for Russian-language users is the ability to recognize Russian inflection in search queries.[11]

Offices

Yandex has offices in 17 countries.[12] Yandex Labs was opened in Silicon Valley in 2008,[13] and also in Istanbul in 2011.[14]

The company opened a sales office in Lucerne in 2012 to serve its European advertising clients,[15] while opening a research and development office in Berlin in 2014.[16] The company opened its first office in Shanghai during 2015 to work with Chinese companies that work in the Russian language market.[17]

History

Development

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

In 1993, Arkady Volozh and Ilya Segalovich, friends since their school days and by then working together to develop search software,[18] invented the word "Yandex" to describe their search technologies. The name initially stood for "Yet Another iNDEXer".[19] 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).

Between 1993 and 1996, the company continued developing its search technologies and released software for searching the Bible.[19] The Yandex.ru search engine was launched on September 23, 1997, and was presented at the Softool exhibition in Moscow.[20] Initially, the search engine was developed by Comptek. In 2000, Yandex was incorporated as a standalone company by Arkady Volozh.[19]

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

In September 2005, it opened an office in Ukraine[21] and launched www.yandex.ua.[22] In 2007, Yandex introduced a customized search engine for Ukrainian users;[23] 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.[24] In 2009, all services of www.yandex.ua were localized for the Ukrainian market.[25] In 2010, Yandex launched its "Poltava" search engine algorithm for Ukrainian users, based on its MatrixNet technology.[26]

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".[13]

Services

In 2001, the company launched the Yandex.Direct online advertising network.[27]

In January 2009, Mozilla Firefox 3.5, replaced Google with Yandex as the default search provider for Russian-language builds.[28]

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.[29]

On May 19, 2010, it launched an English-only web search engine.[30][31]

In March 2013, the company added an English user interface to its translation mobile app.[32]

In July 2013, Mail.Ru started placing Yandex Direct ads on its search result pages.[33]

On October 10, 2017, the company introduced its intelligent personal assistant, Alisa (Alice) for Android, iOS, and Microsoft Windows.[34][35][36]

On February 16, 2018, the company showed off the first tests of its autonomous cars in Moscow.[37][38]

Acquisitions

In March 2007, it acquired Russian social networking service moikrug.ru.;[39] on June 16, 2008, Yandex acquired SMILink, a Russian road traffic monitoring agency, to merge with Yandex. Maps services.[40] In September 2008, the company acquired the rights to the Punto Switcher software program, an automatic Russian to English keyboard layout switcher.[41]

In September 2010, it invested in a $4.3 million financing round by Face.com.[42] The company was acquired by Facebook in 2012. In September 2011, it invested in Blekko as part of a $30 million financing round.[43][44] In November 2011, it acquired software developer SPB Software for $38 million.[45][46] In June 2012, it acquired a 25% stake in Seismotech, for $1 million.[47][48] 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.[49][50] On January 26, 2011, it introduced premium placement opportunity in its Business directory in which advertisers' local small businesses are highlighted.[51] On January 27, 2011, the company acquired single sign-in service Loginza.[52]

In August 2011, Yandex acquired The Tweeted Times, a news delivery startup.[53] In September 2011, it launched a search engine and a range of other services in Turkey, opining an office in Istanbul.[14] In September 2011, it invested in Blekko as part of a $30 million financing round.[54][44] In November 2011, it acquired software developer SPB Software for $38 million.[45][46] In June 2012, it acquired a 25% stake in Seismotech, for $1 million.[47][48]

In October 2013, the company acquired KinoPoisk, the biggest Russian movie search engine.[55][56][57] In February 2014, Yandex invested several million dollars in MultiShip.[58][59] In March 2014, it acquired Israeli geolocation startup KitLocate and opened a research and development office in Israel.[60][61][62] In June 2014, it acquired Auto.ru, an online marketplace and classified advertising website for automobiles, for $175 million.[63][64] In December 2015, it acquired Internet security company Agnitum .[65] On June 6, 2017, the company invested in a $5 million financing round by Doc+.[66] In December 2017, it acquired food delivery Foodfox.[67] 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.[68]

In May 2018, Sberbank and Yandex completed a joint venture deal to develop a B2C eCommerce ecosystem.[69] In October 2018, Yandex acquired Edadil (Russian: Едадил, lit. "grocery deals"), a deal aggregator service.[70]

Finances

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.[71] Among the largest investors were Baring Vostok Capital Partners, which owned a 30% stake, and Tiger Management, which owned a 15% stake.[72]

In 2013, Yandex became the largest media property in Russia by revenue.[73]

Security

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.[74] The firm denied any wrongdoing, but in May 2017, all Yandex services were banned in Ukraine by Presidential Decree No. 133/2017.[75]

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.[76] An investigation by Kaspersky Lab attributed the hacks to Five Eyes intelligence agencies.[76]

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.[77] Maxim Akimov, Deputy Prime Minister of Russia, said that the government will take action to relieve FSB pressure on the company.[78] 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.[79]

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.[80]

News and media

In April 2014, a movie called Startup, about the history of Yandex was released.[81]

On April 20, 2020 as a result of the COVID-19 pandemic in Russia, Yandex announced that it would make its home coronavirus testing service free of charge for all residents of Moscow and its surroundings, and will be available to other regions in the future. Previously, it announced the launch of the service on April 16.[82]

See also

References

  1. ^ ""Яндекс" сменил логотип впервые за 13 лет" (in Russian). RIA Novosti. March 31, 2021. Retrieved March 31, 2021.
  2. ^ a b c d "Yandex Announces Fourth Quarter and Full-Year 2020 Financial Results" (PDF). Yandex. February 16, 2021. p. 23. Retrieved February 16, 2021.
  3. ^ "Yandex Announces Fourth Quarter and Full-Year 2019 Financial Results". Yandex. February 14, 2020. Retrieved February 14, 2020.
  4. ^ N.V., Yandex (April 25, 2018). "Yandex Announces First Quarter 2018 Financial Results".
  5. ^ "Все сервисы Яндекса". Яндекс.
  6. ^ "Yandex in Netherlands has registered affiliated company called Yandex Europe B.V." Offshore Company Formation | Company Express. February 8, 2011. Retrieved July 10, 2020.
  7. ^ "Yandex in Netherlands has registered affiliated company called Yandex Europe B.V. - Offshore Company Formation | Company Express". Offshore Company Formation | Company Express. February 9, 2011. Retrieved June 13, 2018.
  8. ^ "Yandex — Mission". Yandex. Retrieved June 13, 2018.
  9. ^ "Yandex, Russia's biggest technology company, celebrates 20 years". The Economist. September 30, 2017.
  10. ^ "Liveinternet stats provider, Russian sites visited by Russians".
  11. ^ Ioffe, Julia (February 10, 2009). "Google's Russian threat". Fortune.
  12. ^ "Yandex". Yandex.
  13. ^ a b "Yandex Labs to Open in Silicon Valley" (Press release). Yandex. June 20, 2008.
  14. ^ a b "Yandex Launches in Turkey" (Press release). Yandex. September 20, 2011.
  15. ^ "Yandex Opens Offices in Europe" (Press release). GlobeNewswire. March 12, 2012.
  16. ^ "Russia's Yandex to open new office in Europe". Reuters. February 6, 2014.
  17. ^ "Russian Internet company Yandex opens commercial office in Shanghai". TASS. September 10, 2015.
  18. ^ "Emerging Leader: Arkady Volozh & Thomas White International". Thomaswhite.com. May 29, 2012.
  19. ^ a b c "History". Yandex.
  20. ^ "Yandex Turns 20". Yandex. September 28, 2017.
  21. ^ "Yandex Representative Office Now in Ukraine" (Press release). Yandex. September 6, 2005.
  22. ^ "Yandex Presents www.yandex.ua" (Press release). Yandex. September 20, 2005.
  23. ^ "Yandex Adds Ukrainian Search" (Press release). Yandex. October 2, 2007.
  24. ^ "Yandex Extends its Presence in Ukraine" (Press release). Yandex. August 20, 2008.
  25. ^ "Yandex Learns Languages" (Press release). Yandex. November 19, 2009.
  26. ^ "Yandex Search for Ukraine's Every Region" (Press release). Yandex. July 27, 2010.
  27. ^ "Yandex — History — History of Yandex". Yandex.
  28. ^ Shankland, Stephen (January 9, 2009). "Firefox in Russia dumps Google for Yandex". CNET.
  29. ^ "Enhanced Music Streaming on Yandex" (Press release). Yandex. September 22, 2010.
  30. ^ "Yandex Adds Foreign Content to Its Search Index" (Press release). Yandex. May 19, 2010.
  31. ^ Rao, Leena (May 18, 2010). "Yandex Adds Foreign Content Filter To Search". TechCrunch.
  32. ^ Lomas, Natasha (March 26, 2013). "Yandex Adds English UI To Its Translation App To Widen Its International Appeal". TechCrunch.
  33. ^ "Mail.ru, Yandex agree to place ads from Yandex.Direct on search engine". Interfax. July 25, 2013.
  34. ^ "Say "Privet" to Alice, Yandex's Intelligent Assistant". Yandex. October 10, 2017.
  35. ^ Heater, Brian (October 10, 2017). "Yandex introduces Alice, an Alexa-like assistant that speaks Russian". TechCrunch.
  36. ^ Locklear, Mallory (October 10, 2017). "Meet Alice: The virtual assistant from Russian search giant Yandex". Engadget.
  37. ^ Etherington, Darrell (February 16, 2018). "Yandex shows off the first tests of self-driving cars on Moscow roads". TechCrunch.
  38. ^ Hawkins, Andrew J. (February 16, 2018). "Watch this self-driving car navigate the snowy streets of Moscow". The Verge.
  39. ^ "Yandex Acquires Social Networking Web Site MoiKrug.ru" (Press release). Yandex. March 27, 2007.
  40. ^ Andrews, Robert (June 16, 2008). "Russia's Yandex Buys Traffic Info Service SMIlink". GigaOm.
  41. ^ "Yandex Releases Punto 3.0" (Press release). Yandex. September 9, 2008.
  42. ^ Wauters, Robin (September 27, 2010). "Facial Recognition Tech Startup Face.com Raises $4.3M From Yandex And Others". TechCrunch.
  43. ^ Rao, Leena (September 29, 2011). "Search Engine Blekko Raises $30 Million From Russian Search Giant Yandex And Others". TechCrunch.
  44. ^ a b "Blekko Closes $30 Million Funding Round; Welcomes Yandex as Strategic Investor" (Press release). Business Wire. September 29, 2011.
  45. ^ a b Shatalova, Ekaterina (November 28, 2011). "Yandex Acquires SPB Software Developer to Expand Mobile Products". Bloomberg L.P.
  46. ^ a b Empson, Rip (November 28, 2011). "Russian Search Giant Yandex Acquires Mobile Software Developer SPB For $38 Million". TechCrunch.
  47. ^ a b "Yandex Supports Geophysical Exploration" (Press release). Yandex. June 22, 2012.
  48. ^ a b Peak, Krystal (June 22, 2012). "Yandex buys 25% stake in seismic data processing biz". Vator.
  49. ^ "Yandex Supports Startups" (Press release). Yandex. December 24, 2010.
  50. ^ Butcher, Mike (December 24, 2010). "Yandex Acquires WebVisor's Behavior Analysis Technology, Team". TechCrunch.
  51. ^ "Yandex Offers Geo-targeted Ads to Businesses" (Press release). Yandex. January 26, 2011.
  52. ^ O'Hear, Steve (January 27, 2011). "Yandex Acquires Single Sign-In Service Loginza". TechCrunch.
  53. ^ Wauters, Robin (August 26, 2011). "Russian Search Giant Yandex Acquires Social News Startup 'The Tweeted Times'". TechCrunch.
  54. ^ Rao, Leena (September 29, 2011). "Search Engine Blekko Raises $30 Million From Russian Search Giant Yandex And Others". TechCrunch.
  55. ^ "Yandex Acquires KinoPoisk" (Press release). GlobeNewswire. October 15, 2013.
  56. ^ Lunden, Ingrid (October 15, 2013). "Yandex Buys KinoPoisk, 'Russia's IMDb', To Move Into Film Search And Recommendation". TechCrunch.
  57. ^ Kiselyova, Maria (October 16, 2013). "Yandex buys Russian movie review site". Reuters.
  58. ^ "Yandex invests in MultiShip: A perfect match on the Russian e-commerce service scene". VentureBeat. February 1, 2014.
  59. ^ "Yandex invests in online logistics provider". Reuters. February 1, 2014.
  60. ^ "Yandex Acquires KitLocate" (Press release). GlobeNewswire. March 18, 2014.
  61. ^ Lomas, Natasha (March 18, 2014). "Russian Search Giant Yandex Acquires Low-Power Mobile Geolocation Startup KitLocate". TechCrunch.
  62. ^ Shamah, David (March 21, 2014). "Yandex to open Israeli R&D centre after KitLocate acquisition". ZDNet.
  63. ^ "Yandex to Acquire Auto.ru" (Press release). GlobeNewswire. June 16, 2014.
  64. ^ Lunden, Ingrid (June 16, 2014). "Yandex Acquires Auto.Ru For $175M, Adding Car Classifieds To Its Search Business". TechCrunch.
  65. ^ "Yandex acquires software developer Agnitum". December 9, 2015.
  66. ^ "DOC+, the Digital Health Company, Raises $5M From Yandex and Baring Vostok" (Press release). PRNewswire. June 6, 2018.
  67. ^ Teterevleva, Anastasia; Devitt, Polina (December 25, 2017). "Russia's Yandex.Taxi buys food delivery service Foodfox". Reuters.
  68. ^ "Yandex and Uber Complete the Combination of Their Ride-Sharing Businesses in Russia and Neighboring Countries" (Press release). GlobeNewswire. February 7, 2018.
  69. ^ Editorial, Reuters. "Russia's Yandex sets up e-commerce venture with Sberbank". U.S. Retrieved May 21, 2018.
  70. ^ ""Yandex" has become the sole owner aggregator of discounts "Edadil". newsworld. Retrieved October 2, 2018.
  71. ^ Rusli, Evelyn M. (May 24, 2011). "Yandex Shares Soar 55% in Market Debut". The New York Times.(subscription required)
  72. ^ Popova, Olga; Kiselyova, Maria; Mosolova, Tanya (May 20, 2008). "Russia's Yandex plans up to $2 bln NY IPO - source". Reuters.
  73. ^ d’Amora, Delphine (April 10, 2014). "Internet Titan Yandex Leads State-Owned Channel One for 2013 Revenue". The Moscow Times.
  74. ^ Soldatkin, Vladimir; Stubbs, Jack (June 1, 2017). "Russia's Yandex to close offices in Ukraine's Odessa and Kiev". Reuters.
  75. ^ УКАЗ ПРЕЗИДЕНТА УКРАЇНИ №133/2017 — Офіційне інтернет-представництво Президента України (in Ukrainian). Office of the President of Ukraine. Retrieved May 17, 2017.
  76. ^ a b Bing, Christopher; Stubbs, Jack; Menn, Joseph (June 27, 2019). "Exclusive: Western intelligence hacked 'Russia's Google' Yandex to spy on accounts - sources". Reuters. Archived from the original on March 6, 2020. Retrieved April 4, 2020.
  77. ^ Prince, Todd. "Russia's Yandex Reportedly Ordered By FSB To Hand Over Encryption Keys". RadioFreeEurope/RadioLiberty. Retrieved June 5, 2019.
  78. ^ "Russian Government Vows to Protect Yandex Against FSB Pressure". The Moscow Times. June 6, 2019. Archived from the original on June 7, 2019. Retrieved April 4, 2020.
  79. ^ "Yandex, FSB find acceptable encryption key solution — media watchdog". TASS. June 6, 2019. Archived from the original on June 7, 2019. Retrieved April 4, 2020.
  80. ^ "Yandex suffers data breach after sysadmin sold access to user emails".
  81. ^ POTOTSKY, DAN (April 3, 2014). "Telling the Yandex story: 'Startup' gets off the ground". Russia Beyond.
  82. ^ "Яндекс сделал тестирование на коронавирус бесплатным для всех возрастов". Yandex. April 20, 2020.