Earlier this morning I tweeted:
Yes, Yandex is sometimes also called “the Google of Russia” and rightfully so. It’s more than just a search engine which owns some 64% of Russia’s search market (versus Google’s 22%) . It also offers an array of other highly-demanded services (dictionaries/machine translation, maps similar to Google’s, blog monitoring, and much more). I’ve used a service of Yandex last week at the Russian Internet Forum in St. Petersburg, demonstrating how comparison shopping engines (CSEs) work. Yandex Market (see a sample screenshot below) is currently the only all-encompassing CSE in the Russia today.
Late Monday (May 23, 2010) Yandex “went public on the Nasdaq market at $25 a share” and, interestingly, “rocketed to close at $38.84, for a 55% first-day gain” [source; emphasis mine], raising “$1.3 billion in a U.S. initial public offering” [source]. Of course, it’s not as impressive as LinkedIn’s 109% first-day gain [source], but still amazing, keeping in mind that it’s a Russian company we’re talking about. Some people yell “bubble”. I say, look at the data. Yandex is really strong Russian company that may be worth investors’ close attention.