Yandex NV (YNDX) Keeps on Rising

Yandex also recently struck a joint-venture deal with Russia’s biggest state bank, Sberbank for its online payments platform Yandex.Money. Yandex will have 25% ownership and Sberbank will hold the majority with 75%. However, getting into such a partnership with a leading regional bank will assist Yandex in ramping up its e-money, and improve the payments ecosystem. The secular trend towards online and digital wallets will provide additional tailwind for growing the online payments business.

The Bottom Line

Yandex is the most valuable Internet property in Russia and its market dominance has been rock solid for many years now. The company is making its way into Turkey and will almost certainly tap into other European countries for incremental search volumes and advertising revenues.

The company has also built up a strong position in eCommerce and has a built up strong joint venture in the payments business as well. The company’s adverting revenues are stellar, thanks to strong advertising relationships. Almost certainly, Yandex will be a strong force to reckon with in the coming years.

The article A Search Engine That Keeps on Rising originally appeared on Fool.com and is written by Ishfaque Faruk.

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