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Russian Yandex Moves Closer to IPO

The Moscow Times reports that Yandex, the largest search engine in Russia, plans to raise $1.5b to $2b in a New York IPO this fall. Their source has said that these expectations are based on a preliminary valuation of Yandex at $5 billion.

Meanwhile Google is looking to improve their performance in Russia, Google co-founder Sergei Brin said in an interview in Moscow last week.

“Yandex received about twice as many searches in Russia per day than Google”, Brin said, “We think our search is better, but [Yandex] also has many talented people”.

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Nick Wilsdon

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