Yandex: “Russia’s Google” Withdraws from Home

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The owner of Yandex, dubbed “Russia’s Google”, has announced its withdrawal from its home country, selling its Russian operation for 475 billion roubles ($5.2 billion; £4.2 billion) to a consortium of investors.

This sale, considerably lower than its estimated market value, results in Yandex’s Russian business becoming fully Russian-owned. Yandex has faced criticism for allegedly concealing information about the war in Ukraine from the Russian public.

Amidst pressure and demands from the Russian government regarding its content, Yandex previously sold some online resources to state-controlled rival VK in late 2022.

The sale of Yandex’s Russian business marks another instance of foreign-owned businesses exiting Russia, often under unfavorable terms, since the country’s invasion of Ukraine.

Source: BBC NEWS

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