Russian search giant, Yandex is now ready to fight with Google. Yandex has expanded its operation in Turkey which is an emerging market.
Yandex is now trying to expand its operation in more countries. But it will take time and right strategy. It is not thinking to take steps in hurry. Although it has very small amount of share in search market and we can neglect it in front of Google, But Yandex is growing fast and trying its best to show its existence in global search market.
Yandex has 64 percent share in search market in russia and raised $1.4 billion in an initial public offering (IPO) in New York last year. These are some good stats for the company. Yandex posted revenues of 20 billion roubles ($648 million)last year and has a market capitalization of $7.2 billion.
“We are focusing on the markets with Google dominance in search … where they have 90-plus percent market share,” Volozh said in an interview in Dublin.
“We’ll be growing 30 percent or something next year, but it’s not doubling every year as we used to have four or five years ago. We need to find some new markets, new opportunities … it could improve our revenues dramatically,” Volozh said.
Yandex also has no plans to jump in the smartphone and tablet market like Google. But it has launched its own browser-based on Chromium project few days back and an Android app store.
Although, Yandex is trying to expand in Global market, It would also defend its market share at home against rivals like Google and Microsoft. Google and Microsoft has their own products to encourage users to use their service, which is an extra benefits for company.
