Russia’s Yandex launches cloud business in Germany, first $ 30 million investment

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FILE PHOTO: The logo of Russian Internet conglomerate Yandex was photographed at the company’s headquarters in Moscow, Russia, on October 4, 2018. Reuters / Shamil Zumatov / FILE PHOTO

September 24, 2021

MOSCOW (Reuters) – Russian Internet company Yandex plans to launch a cloud business in Germany in 2022, with an initial investment of $30 million announced ahead of Friday’s annual Yandex.Scale Cloud conference. ..

The revenue of is expected to double in 2021 to about 3 billion rubles, but has been one of the smaller business lines of Yandex since its launch in 2018. The group’s revenue in 2021 will be between 330 billion and 340 billion rubles.

“This is a very important step. We believe that by operating only in Russia, we cannot become a significant global player in the cloud platform market,” said Oleg Kobrznev, COO of Yandex.Cloud.says.

Yandex.Cloud has about 12,400 corporate clients. According to Kovraznev, about 40 customers are interested in Yandex, a cloud service provider in Germany, which was enough for the company to make an initial investment.

Yandex said it would not yet build its own data center in Germany, instead using a commercial platform.

(Reporting by Alexander Marrow, edited by Timothy Heritage)


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