Russian technology firm Yandex NV found an opportunity at the height of the pandemic – repurposing its army of ride-hailing drivers to provide deliveries in a country where logistics options are scarce. The venture was a success and the company will make its pivot permanent. Yandex, which also operates the nation’s largest internet search engine, is targeting 1 million daily deliveries in the near future,… Source link

MOSCOW and AMSTERDAM, June 29, 2020 (GLOBE NEWSWIRE) — Yandex N.V. (NASDAQ and MOEX: YNDX) (“Yandex,” “we” or the “Company”), one of Europe’s largest internet companies and the leading search and ride-hailing provider in Russia, today announced the closing of its previously announced public offering of 8,121,827 Class A shares. Prior to the closing, the underwriter exercised in full its option to purchase an additional 1,218,274 Class A shares, and accordingly the Company… Source link

(Bloomberg) — Russian technology firm Yandex NV found an opportunity at the height of the pandemic — repurposing its army of ride-hailing drivers to provide deliveries in a country where logistics options are scarce. The venture was a success and the company will make its pivot permanent. Yandex, which also operates the nation’s largest internet search engine, is targeting 1 million daily deliveries in the near future, Daniil Shuleyko, head of the Yandex.Taxi unit, said in an interview.

By Nadezhda Tsydenova and Olga Popova MOSCOW (Reuters) – Yandex <YNDX.O> has doubled the size of its new share offering to $400 million, the Russian internet giant said on Thursday, which combined with private placements will raise $1 billion to finance acquisitions and growth. Yandex, co-founded by its Chief Executive Arkady Volozh in the 1990s, grew from a search engine to provide everything from online taxi services to food delivery, cinemas and a market place. This week, Yandex moved to… Source link

STAVROPOL, June 25. /TASS/. North-Caucasus Federal University (NCFU) and Yandex will open a joint educational initiatives center in the beginning of a new school year; the venter will focus on developing e-learning in Stavropol Region, the university’s press service told reporters on Thursday. “North-Caucasus Federal University is launching a center for educational initiatives NCFU-Yandex. NCFU and Yandex specialists are joining forces to develop and implement educational… Source link

Yandex, Russia’s leading tech company, has agreed to split up its shared ecommerce and payment joint ventures with state lender Sberbank, bringing to an end a decade-long partnership that had soured in recent years. Under the deal, Yandex will buy out Sberbank’s 45 per cent share in ecommerce venture Yandex.Market for Rbs42bn ($604m) and sell its 25 per cent stake in payments platform Yandex.Money to the bank for Rbs2.4bn. The divorce marks the culmination of growing… Source link

MOSCOW (Reuters) – Russian internet giant Yandex (YNDX.O) is interested in taking full control of its Yandex.Taxi ride-hailing service, a joint venture with Uber (UBER.N) which returned to pre-pandemic growth levels in June. FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company’s headquarter in Moscow, Russia October 4, 2018. REUTERS/Shamil Zhumatov/File Photo Yandex is talking to Uber about increasing its majority stake in Yandex.Taxi, Chief Operating Officer and… Source link

MOSCOW, June 24 (Reuters) – A tax cut for IT companies in Russia, proposed by President Vladimir Putin, would not have a revolutionary benefit on internet giant Yandex, Chief Financial Officer Greg Abovsky said on Wednesday. Putin on Tuesday proposed cutting tax on IT companies’ profit to 3% from 20%, alongside an income tax increase for wealthy Russians, sending Yandex shares up more than 3%. (Reporting by Alexander Marrow Editing by David Goodman ) Source link

Yandex, the Russian internet company, has raised $800m through a sale of new shares to US investors and a private placement to a consortium of Russian oligarchs and VTB Bank. Goldman Sachs acted as the sole adviser on the placing. As part of an $800m share sale, Yandex sold $200m of shares to US investors and placed $600m of shares in a private placing to VTB Capital, Chelsea football club owner Roman Abramovich  and Treliscope Ltd, … Source link

MOSCOW, June 24 (Reuters) – A tax cut for IT companies in Russia, proposed by President Vladimir Putin, would not have a revolutionary benefit on internet giant Yandex, Chief Financial Officer Greg Abovsky said on Wednesday. Putin on Tuesday proposed cutting tax on IT companies’ profit to 3% from 20%, alongside an income tax increase for wealthy Russians, sending Yandex shares up more than 3%. (Reporting by Alexander Marrow Editing by David Goodman ) Our Standards:The Thomson Reuters Trust… Source link