Monthly Archives: June 2020

Yandex’s lockdown delivery pivot is morphing into a new business

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

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Yandex Announces Closing of Public Offering and Concurrent Private Placement Nasdaq:YNDX

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

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Yandex’s Lockdown Delivery Pivot Is Morphing Into a New Business

(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.

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Russia’s Yandex, seeking funds for growth, doubles new share offering

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

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Yandex to launch educational initiative center at North-Caucasus Federal University – Society & Culture

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

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Russia’s Yandex says Putin-proposed tax benefits not ‘revolutionary’

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

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PLP Architecture unveils design for new Yandex HQ in Moscow

PLP Architecture is designing an innovative new smart headquarters for Yandex, the Russian technology giant, in the Gagarinsky District of Moscow. The inclusive, 170,000sqm campus will enable staff to have a healthy and sustainable place for seamless work and recreation, a space for inspiration and fun that will integrate technology with materiality to inspire new ideas and refined ways of working. The campus will be a striking yet sensitive addition to the city’s… Source link

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Yandex agrees to part ways with Sberbank

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

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Yandex to Announce the Transaction and Yandex.Market Strategy Discussion Conference Call on June 24th Nasdaq:YNDX

MOSCOW and AMSTERDAM, June 24, 2020 (GLOBE NEWSWIRE) — Yandex (NASDAQ and MOEX: YNDX) today announced management will hold a conference call and webcast at 8:00 a.m. U.S. Eastern Time (3:00 p.m. Moscow time, 1:00 p.m. London time) to discuss the transaction and Yandex.Market strategy. Conference Call Wednesday, June 24, 2020 8:00 a.m. U.S. Eastern Time (3:00 p.m. Moscow time, 1:00 p.m. London time) Webcast (recommended option to listen the call) Source link

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