Consumer Internet stocks are a hot commodity now, especially following LinkedIn Inc.'s stellar initial public offering last week, during which its shares doubled on the first day. Though Yandex isn't in the same coveted social-media space as LinkedIn, it lays claim to some impressive bragging rights in the search-engine game: It is bigger than Google Inc. in Russia.
At 64% of the Russian market vs. Google's 22%, Yandex is a major force in one of the few countries in Europe not dominated by the U.S. search-engine company, which has been operating a Russian-language site since 2001.
Yandex, which also is the largest Internet company in Russia by revenue, has been profitable since 2003. In the first quarter, net income rose 62% to $29 million, and in 2010 it increased 90% to $134 million. The company is aiming to raise as much as $1.15 billion on Tuesday through a listing on the Nasdaq under the symbol YNDX.
WSJ
Should you buy the stock? Of course. But just don't back up the truck.
Anybody that beats Google, even if only in home turf, is still worthy of your investment dollars.
At 64% of the Russian market vs. Google's 22%, Yandex is a major force in one of the few countries in Europe not dominated by the U.S. search-engine company, which has been operating a Russian-language site since 2001.
Yandex, which also is the largest Internet company in Russia by revenue, has been profitable since 2003. In the first quarter, net income rose 62% to $29 million, and in 2010 it increased 90% to $134 million. The company is aiming to raise as much as $1.15 billion on Tuesday through a listing on the Nasdaq under the symbol YNDX.
WSJ
Should you buy the stock? Of course. But just don't back up the truck.
Anybody that beats Google, even if only in home turf, is still worthy of your investment dollars.
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