Forbes excluded Google from the list of Russia’s largest companies
Monday, 26 March 2012
Forbes magazine published a rating of Russia’s largest internet companies. Yandex was placed first, followed by Mail.ru Group. A number of companies that are branches of US based conglomerates did not make it into the hit list, though, these included such big names as Google and Groupon. The rating includes a total of 30 Russian internet companies.
The rating is based on net revenue. According to their financial statements, Yandex made RUB 20 billion in 2011, Mail.Ru Group made about RUB 15.2 billion. The online store Utkonos follows them with RUB 6.4 billion.
Russia’s largest social network vk.com was 8th in the rating. AnywayAnyday, an online service for booking airline tickets, ozon.ru, freezers.ru and KupiVIP were all ahead of it. The last in the rating was the Avito.ru online classifieds service.
Yandex, which made it to the top spot in the rating, is Russia’s largest and most popular search engine that also offers a number of other internet services, including email, music, maps etc. In 2011 Yandex increased its net profit by a factor of 1.5 to RUB 5.8 billion.
Mail.Ru Group’s estimated IFRS net profit was up by a factor of 2.6 in 2011, reaching USD 207.6 million as opposed to just USD 80.8 million the year before. The company operates an online mail services, the social networks My Circle and Classmates, the instant messengers Mail.Ru@Agent and ICQ and also holds a 39.99% stake in vk.com, 21.35% in the Qiwi payment service and minority stakes in a number of international Internet companies, including Facebook, Zynga and Groupon.