Yandex acquires context ad platform K50

Yandex acquires context ad platform K50
Yandex acquires context ad platform K50
By East West Digital News in Moscow October 25, 2020

Yandex, the NASDAQ-listed Russian Internet giant, is acquiring K50. According to businesss daily Kommersant, this is a full acquisition and an exit for the company’s shareholders, which include the venture fund AddVenture Capital and the management, reports East-West Digital News (EWDN).

As a result of the deal, K50 will be able to scale up its business, while Yandex advertisers will use digital channels even more efficiently, a Yandex representative said in an exchange with Kommersant.

The amount of the deal was not disclosed, five years after the company was valued at $5mn when AddVenture invested in it.

In 2019 advertising accounted for two thirds of Yandex’s revenues, generating some 34bn rubles ($533mn at the average exchange rate of that year).

In the second quarter of 2020, however, these revenues decreased by 15% year on year, according to company results cited by ICT Moscow.

 

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This article first appeared in East-West Digital News here, a partner of bne IntelliNews

 

 

 

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