Yandex made more than $300mm in 2008

Internet, February 5, 2009. Yandex announced preliminary unaudited financial results for 2008. Revenue exceeded $300mm, up more than 80% year-on-year. More than 85% of revenue was derived from text-based advertising.

In 2008 the average monthly number of advertisers on Yandex increased by more than 50%. Revenue generated from advertising on partner websites on the Yandex Advertising Network almost tripled.

Currently, Yandex has approximately 1,700 employees in Russia (Moscow, Saint Petersburg, Ekaterinburg), Ukraine (Kiev, Odessa, Simferopol) and in the USA (California).