Yandex Revenus And Income Up, Market Share Down
Yandex has had an eventful year: it rolled out a whole set of new features, invested into quite a few start-ups and enlisted on NASDAQ, raising almost $1.5 billion. Though after the initial hype of the IPO their shares were in decline. According to Q3 financial results released this week, the company is doing very well.
Their revenues jumped 65% from last year to $161.9 million and their net income grew a staggering 93% over the last 12 months reaching $53.5 million. However, their share of the Russian search market slightly dropped from almost 65% to 62.7%. Lost market share went to Google, who is trying to grow their market share in the region with the help of their browser, Chrome (popular especially among young people). Though, as Arkady Volozh, Yandex's founder and CEO retorted to Reuters: 'In the long run, clear market leadership is more important to financial performance than the magnitude of that lead which is likely to fluctuate over time'.
Apaja changes executives and expands to Turkey
Apaja Online Entertainment has done some changes in their management while expanding the casual gaming service to Turkey, according to a press release sent out earlier today. Inka Mero, the CEO of Apaja, is on a maternity leave and Tiina Zilliacus has joined the company as an acting CEO, Executive Vice President. Tiina Zilliacus has previously worked with Nokia Online Shops and Sonera Zed -service, according to the information on the management.
Also reported in the press release is the expansion of Playray gaming service to Turkey, the 15th country where the service is available. No date for the launch of Turkey is given in the press release. Playray now attracts 2.5M unique visitors on a monthly basis.
Disclosure: I am a former employee of Apaja Online Entertainment.
