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WIKI ANALYSIS
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Yandex N.V. (NASDAQ:YNDX), a Netherlands-based company, is the leading search engine in Russia and currently operates in Russia, Ukraine, Kazakhstan and Belarus. The search engine algorithm is based on a proprietary algorithm that returns the relevant search results. The company generates the majority of its revenues from online advertising by using keywords entered by user to deliver targeted advertising. Additional revenues come from displaying advertising on third party websites within the company’s network. [1]
As one of the BRIC countries, Russia is expected to see significant internet growth in the upcoming years. Yandex expects to capitalize on the growing number of both personal computer and smart phone mobile users by offering highly demanded text based internet search capabilities. There is also an increasing demand for online advertising as the business plans to expand the ecommerce side of sales within Russia. Stiff competition exists from other internet companies including Mail.ru and Google (GOOG). The latter is well positioned as a key risk competitor especially after launching the Android smart phone. [2]
The company's initial public offering of stock on the NASDAQ occurred on May 23, 2011. The company offered 52M shares each for $25. This was at the high end of the $24-$25 revised price range. The company had initially provided a range of $20-$22. The offering raised a total of $1.3B. The lead managers of the IPO were Morgan Stanley (MS), Deutsche Bank AG (DB), and Goldman Sachs Group (GS).[3]
During the full year 2010, the company reported a total revenue of $440M and its net income $134M. This was a 42% increase in total revenue and a 90% increase in net income as compared to 2009.[4]
- ↑ YNDX S-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1-2
- ↑ YNDX S-1/A 2011 PROSPECTUS SUMMARY "Our Industry" pg 2-3
- ↑ Renaissance Capital - IPO Home "Russian search engine Yandex prices IPO at $25; largest Internet IPO since Google" 23 May 2011
- ↑ YNDX S-1/A 2011 PROSPECTUS SUMMARY "SELECTED CONSOLIDATED FINANCIAL DATA" pg 51
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