Here’s a video interview with Arkady Volozh, CEO Yandex from the Prague CIF conference, in english. Some of the key points are summerized below:
- Yandex currently has 60% market share
- Russia’s mathematical heritage gives them their edge over other search engines
- Reasons they are better than Google? Better search, more localised informational services (i.e. Yandex Maps shows traffic jams in Moscow)
- 90% of all search requests are for Russian content
- They index the whole web now, not just Russian material
- Finding talent is the key problem for Russian internet firms
- They have 2yr training program with Russian universities to teach linguistics, clusters and information technology.
- There is more money than brains in Russia. Viable ideas gain finance but finding talent is harder.
- IPO was planned a year ago but postponed. Now we consider it as a possible option. Due to the economic environment but also we have enough liquidity at the moment to do without it.