The Business Model of Yandex
Yandex is a joint venture between Russia and the Netherlands that focuses on the development of intelligent services and products. Yandex accomplishes this with its own machine learning/AI, comparable to Google. As stated on the website, the emphasis is on delivering the greatest possible support to individuals and businesses both online and offline. Yandex.ru, the Yandex search engine, has been online since 1997 and has been regularly improved since then. Initially, Yandex employed approximately 25 individuals and everything was hosted on a single server; however, Yandex today operates in nine countries and employs over 12,000 people. In Russia, Yandex.Radar has a market share of 59.3 percent of search traffic (Yandex.Radar, Q3 2021), and the same service is widely utilized in Belarus, Kazakhstan, and Turkey. Additionally, millions of people, primarily in Russia, utilize on-demand transportation services comparable to Uber and Lime, navigation products, and other smartphone apps on a daily basis. Additionally, Yandex offers its own browser, email client, translator, cloud services, and a voice assistant equivalent to Alexa or Echo. Since May 2011, Yandex has been listed on the NASDAQ under the symbol YNDX. Almost half of total revenue came from user-tailored advertising that Yandex displays on its own search engine and on thousands of other third-party websites.