Solid reports have indicated for several months that Yandex, the popular Russian search engine, would file for an IPO sometime this year. Now it seems that international problems have made it delay things until 2009 instead.Blame the global economy for starters. Unsteady markets and rising inflation have caused investors to become nervous, making them less likely to sink money into anything without a long and solid track record. Yandex, which was founded in 1997 and became profitable in 2002, might not be embraced.
Russian property Yandex has both Yahoo and Microsoft beat in the European search market, and trounces Google, too, in its homeland. Now, a report has indicated that Yandex (or at least its name) may travel to New York to raise $2 billion in an IPO.
Europe's full of different countries, and all that impressive European Union stuff aside, it's hard to believe they've got much in common. Yet judging from new comScore statistics, it seems as if Google is the sort of thing that'll generate smiles, or at least recognition, everywhere.
China and India get all the attention from the major Internet players when it comes to growing Internet economies, but search advertising in Russia has a couple of local players dominating the field.
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