Yandex to spend $400-500 million on e-commerce

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, Reuters reports. Yandex’s core advertising business took a hit during the early stages of the COVID-19 pandemic, but surging interest in online transactions allowed other segments of its business to flourish, including food delivery and…

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