- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Russian Web search engine Yandex opens U.S. subsidiary

Subscribe
The Russian web search company Yandex is to open a subsidiary -Yandex Laboratories - in the U.S.'s Silicon Valley, the company said in a press release on Friday.
MOSCOW, June 20 (RIA Novosti) - The Russian web search company Yandex is to open a subsidiary -Yandex Laboratories - in the U.S.'s Silicon Valley, the company said in a press release on Friday.

It said Yandex Laboratories would be headed by Vish Makhijani, a former Yahoo executive.

Yandex, Russia's most popular Internet search resource, has reportedly been valued at $5 billion for an initial public offering at the U.S. Nasdaq trading floor in the fall. Yandex intends to float $1.5-2 billion worth of stock.

Yandex has mandated Morgan Stanley, Deutsche Bank, and Renaissance Capital to organize the share offering, the Russian Vedomosti business paper said last month.

According to the paper, Yandex is the world's second most popular non-English-language search vehicle after China's Baidu.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала