Yandex sees huge growth: 43% revenue increase in a year
It’s that time of the year again! We are seeing numbers from all the major companies world wide, including the search engines. This Thursday Google will announce their numbers. But they might have a hard time beating the growth numbers which Yandex has produced. The Russian giants sees a growth of no less than 43% on a year to year basis.
I guess when Barry wrote about the alternative for Google last week, he was right when it comes to money. The company’s ruble revenue grew to 12.5 billion rubles ($410 million). Compared to 2009 that is an increase of 43%. They mainly make that money via contextual advertising.
Revenues from contextual advertising grew 45% year-over-year, which is a much bigger growth than the increase the Russian ad market in general sees, that ‘only’ grew by 14%, while the online advertising market showed a 37% growth.
Arkady Volozh, CEO of Yandex off course is a happy man:
“The highlight of 2010, as we see it, is that by constantly improving our product quality we managed to increase our share in the search market. The considerable revenue increase we report this year reflects two important trends — a post-crisis revival of the small and medium-sized businesses and a shift in advertising expenditures from other channels towards online advertising”
Yandex is the biggest search engine in Russia, where they have a 64% market share, but they are also dominant in other Eastern European countries like Ukrain (27%), Kazakhstan (24%). In total, according to Comscore, had 54 million in November 2010, and keeps on growing, especially with the local engines they are rolling out. Beware of the Russians!