Yandex, the Russian search engine that along with China's Baidu is demonstrating Google doesn't have a total lock on search, reported that its 2010 revenue increased 43 percent year over year to 12.5 billion rubles, or about $420 million.
The company made 88 percent of its 2010 revenue from contextual ads, which by its definition include those shown next to search results, the company said yesterday. The company has more than 180,000 advertisers.
The revenue figures exclude commissions paid to partners, the company said. Yandex, a privately held company, didn't release information about its profitability. … Read more