The Russian internet giant Yandex released its Q4 and full-year financial results for 2024 last week.
Highlights include:
Founded in 1997, Yandex is essentially "The Russian Google", accounting for 66% of all internet searches nationwide. The company also owns and operates the Auto.ru, Yandex Real Estate, Yandex Rent and Yandex Travel horizontals.
Yandex Real Estate and Auto.ru were main drivers of growth for the year, said the company, while Yandex Rent now provides access to over 20,000 rental units in 14 cities nationwide. Meanwhile, Yandex Real Estate achieved 7.5 million monthly active users.
Yandex's Advertising segment, which includes the Real Estate business, grew revenues 28% from Q4 2023 to Q4 2024, while full year revenues rose 41% to RUB 34.1 billion (USD 393 million). Yandex attributed the growth of its Real Estate service for new buildings as a core driver of increased revenues for the year.
However, revenue growth for the segment came at a cost—Adjusted EBITDA of the Advertising segment fell from RUB 400 million (USD 4.6 million) to RUB 200 million (USD 2.3 million) for the year after Yandex invested more heavily in personnel and marketing.
Yandex recently revamped its pre-sale feature to facilitate users purchasing a new-build property before it comes to market.
Axel Springer has appointed Vladimir Pravdivy, former CEO at Avito, as the new head of AVIV Group. Pravdivy replaces the...
Read More
Adevinta is seeking up to €6.5 billion (USD 6.8 million) in loans from to restructure and refinance its debt, according...
Read More
Property chains are one of the biggest threats to a home move—with the potential to destroy a vast number of...
Read More
CoStar continues to be the biggest story in our industry as it pursues an aggressive M&A strategy across global markets....
Read More
