YANDEX
Leading internet company in Russia. Fully exited in 2016
Projects
The Funds’ first investment in telecommunications was made in 1994 in FGI Wireless (which eventually became today’s Vimpelcom, one of Russia’s largest mobile telephony operators). The company was a pioneer in cellular network development in Russia. Since 1994, Baring Vostok funds have invested over $850 million in 30 companies in the internet, software, media, and telecommunications sector.
- Location:
- Moscow, Russia
- Year of initial investments:
- 2000
- Shareholding:
- Large minority stake
- Exit:
- IPO at NASDAQ in 2011. Fully exited in 2016.
Yandex (YANDEX.ru) – an Internet search engine primarily for Russian and Russian-language users – was launched in September 1997. In 2000, after researching the Russian Internet market thoroughly, Baring Vostok Private Equity Fund invested in the company.
Today, Yandex is the leading internet company in Russia, operating the country’s most popular search engine and most visited web site. The company also operates in Kazakhstan, Belarus and Turkey. Yandex is in the world’s top five search engines by number of searches.
Other projects
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IVI.RU
Online video service -
Sorsdata
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Проект завершенGlobal Telesystems
Telecommunications company, the assets of which were used as a basis for Golden Telecom. Exited in 1999 -
1C
Leader in accounting software solutions -
AVITO.RU
Online classifieds service -
Проект завершенCTC Media
One of Russia’s largest television stations. Fully exited in 2008 -
Проект завершенElectro-Com
First operator in the Russian market of telecommunication services providing consumers with access to Internet, telephone and digital television through electric networks. Fully exited in 2012 -
Center of Financial Technologies
Leader in software solutions and processing services for financial and credit organizations in Russia and the CIS -
Kolesa/Krisha
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ER-Telecom
Leading regional telecommunications operator providing consumer broadband and cable TV services