Search our blog for articles and insights right here, just type your interest and dive into a world of knowledge.
Popular articles
Arkady Volozh Returns to Lead Rebranded Yandex NV
Yandex NV founder Arkady Volozh has resumed a leadership role in a significantly transformed version of the company, which recently finalized the sale of its Russian operations, including the country's top search engine. The deal marks a pivotal moment for the company registered in the Netherlands, as it transitions into a new entity named Nebius Group upon shareholder approval.
Following the February 2022 invasion of Ukraine, Yandex NV faced substantial pressure both domestically and internationally. This culminated in an agreement to divest its Russian business for 475 billion rubles ($5.4 billion) in a combination of cash and stock, with the cash portion completed in May and the share transfer finalized this month.
Volozh, who previously stepped down as CEO after being sanctioned by the European Union for Yandex's alleged role in disseminating Russian propaganda, is set to oversee the company's new strategic direction. He publicly condemned the invasion of Ukraine in 2023, a year after sanctions were imposed, and has since been cleared of these EU sanctions while residing in Israel.
Under the new Nebius Group moniker, the company will shift its focus toward developing technologies for self-driving cars, cloud storage, data labeling, and educational technology projects. The scale of these investments will hinge on the financial proceeds from the sale of its Russian division.
