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Concept
Yandex
Summary
Yandex LLC (Яндекс) is a Russian multinational technology company providing Internet-related products and services, including an Internet search engine, launched in 1997, information services, e-commerce, transportation, maps and navigation, mobile applications, and online advertising. Yandex holding company was incorporated in 2000. As of 2016, it primarily served audiences in Russia and the Commonwealth of Independent States of the former Soviet Union.
As of 2017, the firm was the largest technology company in Russia and the largest search engine on the Internet in Russian, with a market share of over 58%. As of 2018, it was also the second largest search engine in Turkey, Belarus, China, Uzbekistan, Tajikistan, North Korea, Kyrgyzstan, Kazakhstan, Ukraine & Armenia with a market share of over 26%, 24.7%, 21.81%, 18.6%, 17.16%, 15%, 11.6%, 9.4%, 7.9% & 7.2%, respectively. As of 2018 it had more than 30 offices worldwide. It has the largest market share of any search engine from Europe and the Commonwealth of Independent States and is the 3rd largest search engine worldwide after Google and Bing. Its main competitors on the Russian market are Google, VK, and Rambler.
Yandex LLC's holding company, Yandex N.V., is a naamloze vennootschap (Dutch public limited company) with its head office listed at an address of a virtual office in Amsterdam's Schiphol Airport. Yandex N.V. is listed on Nasdaq and has a secondary listing on the Moscow Exchange.
In February 2022, trading in Yandex shares on NASDAQ was suspended and as of June 2023 the suspension of trading remains in effect.
In 1993, Arkady Volozh and Ilya Segalovich, friends since their school days and by then working together to develop search software, invented the word "Yandex" to describe their search technologies. The name initially stood for "Yet Another iNDEXer". 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).
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