Russia’s Yandex to spend $400-500 million on e-commerce in 2021 after profit rise

MOSCOW (Reuters) – Russia’s Yandex, which on Tuesday reported a 2% rise in 2020 net profit, plans to spend $400 million-$500 million on an e-commerce push this year to help annual revenue reach 305-320 billion roubles ($4.1-4.3 billion), its finance chief said.

FILE PHOTO: The company logo is seen on the headquarters building of Yandex company, in Moscow June 14, 2012. REUTERS/Maxim Shemetov

Yandex’s core advertising business took a hit during the…


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