Yandex makes up to 233 milion Euros

Thu 5 February 2009 15:37, Bas van den Beld

Yandex makes up to 233 milion Euros

The big ‘Google-killer’ might be located in Russia. Russian search engine Yandex, very big in Eartern Europe, today announced their unofficial financial results for 2008. And Yandex did very well.

Yandex saw its revenues rise with about 80% compared to 2007 up to 300 million dollars which is about 233 million Euros. Most of Yandex revenues were earned by text ads.

Yandex grew not only in money but also in number of advertisers. The average monthly number of advertisers grew by almost 50% compared to 2007. Also the number of employees grew. Currently Yandex has 1700 employees in Russia, Ukraine and in the USA.

While advertisers on the Yandex website were growing most revenue-growth can be seen in the Yandex Advertising Network, in which advertising on partner websites is regulated. Revenues on the Advertising Network tripled.

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