Report: Yandex search engine for sale
Yandex, the dominant search and online advertising platform is Russia since 1997, has been in turmoil since Russia's invasion of Ukraine.
Yandex N.V., which is now a Dutch holding company, is looking to sell off its search engine and all of its other Russian assets as part of a deal estimated to be between $5 billion and $6 billion, Reuters reported.
Likely sale? A sale could come as early as December. Yandex N.V. might sell 100% of all its Russian assets or hold share options.
- “Dutch holding company Yandex NV’s planned restructuring is aimed at recouping some shareholder funds with the sale of its main revenue-generating Russian businesses, such as its search and ride-hailing operations. It then plans to develop four other business lines internationally,” Reuters reported.
Yandex also dominates online advertising in Russia.
Why we care. Yandex has been in turmoil since Russia invaded Ukraine in February 2022, though it still has a commanding 65.95% search market share in Russia (only 1.83 globally), in October, per StatCounter, while Yandex announced it had 62.6% market share in its Q3 2023 earnings report. It remains an area international search marketers will want to watch.