Last week it was LinkedIn and today it is Yandex. That is correct Yandex launced its IPO today and though not as volatile as the debut of LinkedIn but certainly Yandex is generating some buzz among the investors. Yandex is Russia’a answer to Google and it is extremely hot in Russia. The local market share of Yandex is around 65% whereas Google is 22%.
Yandex was co-founded by Russian mathematician and computer whiz Arkady Volozh and and geophysicist Ilya Segalovich. Go to the wiki page of Yandex to learn more about that. The stock which was suppose to open at $25 per share is now trading at around $35. It already touched the $40 mark in the morning but got retreated back in the 30s territory. To get the latest update on the price of Yandex (YNDX) check here.
Hope Yandex is here to stay as the competition in the search market is increasing everyday. Right from the start from Alta Vista to Yahoo to Google to Bing to Yandex many search technologies have seen their best before falling down on their knees. One such search engine of recent times was Cuil which was not able to withstand the competition and now is down for good. Cuil was launced by former Google employees but failed. Hope Yandex will learn from its mistake. I do see some traffic from Yandex on my blog as I have lots of views from the people of Russia and I am very thankful to them for reading my blog.
Hope Yandex won’t disappoint its solid user base and the investors who are pretty bullish on the stock and the company. Some debate that the search algorithm of Yandex is pretty stable and at times superior to that of Google. I say why not, there is a common link between Google and Yandex and that link is Russia (Google’s co-founder Sergey Brin was born in Russia). Well good luck to Yandex and its investors. Tech on boom and fingers crossed as usual.
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