Makhijani will be president and chief executive of Yandex Labs, the company said Friday.
"Vish and his group at Yandex Labs will help to develop and improve Yandex's core technology capabilities including the quality of algorithmic search for the Russian audience," said Arkady Volozh, CEO of parent company Yandex. "We did not hesitate to go the extra mile to find this rare talent." (Though … Read more
Yandex, a Russian search engine, plans to raise $1.5 billion to $2 billion in an initial public offering this fall, Reuters reported Tuesday.
The funding is based on an overall valuation of about $5 billion, according to an unnamed source. Reuters also cited Russian media reports that Morgan Stanley, Deutsche Bank, and Renaissance Capital are managing the IPO on Nasdaq.
Yandex has about 8 million unique users per day, the company said. Its co-founders are Chief Executive Arkady Volozh and Chief Technology Officer Ilya Segalovich. The company's technology began as a linguistics project at the Russian Academy of … Read more
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