by Ali Altuğ KOCA on October 3, 2011
Yandex has finally announced that it is in Turkish market with a pres meeting held today. Founded in 1993, Russian search engine Yandex has the largest market share by 64% in Russia. Yandex has been continuing its work in Turkey for a few months and made a relatively large team, while the company had been meeting several players of the industry to guarantee a large share in Turkish market. Yandex will be offering its services at yandex.com.tr in Turkey.
With the launch meeting held today, Yandex has officially announced it started to operate in Turkis market. The company was founded in Russia in 1993 when it began working on an indexing system for Russian language. The service went online at Yandex.ru in October 23, 1997 and caught success with its search capability suited for Russian morphology. After 3 years, it became the largest search system in Russia.
Yandex started its system called Direct, which make up the largest part of its income now, and thus stepped into digital advertising. The company started its offices outside Russia 2005 and to operate in Ukraine, Kazakhstan, Belarus and the US, and Turkey joined these countries lastly. Yandex shares started to be traded in NASDAQ this year.
Yandex Turkey has started its works in Turkey with its team managed by Product Manager Alisher Hasanov and Erhan Erdoğan, former Webrazzi author, joined its team a while ago. The team is localizing Yandex services as the first step, and is trying to teach Turkish culture, language and preferences to the search engine in order to improve service quality for Turkey.
Notes from Press Meeting:
As I have shared the company basics with you, I can move on and tell you about my notes from the press meeting now. The meeting was held with the participation of Arkady Volozh, Yandex founder and CEO, Product Marketing Director Andrey Serbant‘ın and Yandex Turkey Product Manager Alisher Hasanov. I can tell that Yandex considered this meeting very important.
CEO Arkady Volozh made the opening speech, telling that there are only 6 search engines in the world with a considerable size and Yandex is the largest Internet company in Europe.
Market value of Yandex, whose shares are traded in NASDAQ is nearly 10 billion dollars and the company has 3000 employees working in 11 offices around the world. Turkey is the 5. country with Yandex offices. Arkady Volozh told the company is looking to introduce in a new market, adding that the reasons for choosing Turkey are 35 million internet users in Turkey, the growth rate is as high as 50 percent with the fastest growing market in Europe and local content is very rich.
Yandex Turkey Product Manager Alisher Hasanov also spoke in the meeting, adding that they are in Turkey to offer search services and are gradually improving service quality thanks to their team in Turkey.
Yandex managers have said that they are not aiming to get ahead of Google, which is the market leader now, but want to improve the product and reach early adopters. They have also stated that a country’s market does not have to comprise of only one company, and that in a country’s market throughout the world in general market leader has a share of 60 percent, while the second service has a share of 30 percent.
Yandex managers have said they are not going to introduce Direct (equivalent of Google Adwords) into Turkish market right away. The management does not expect a financial income for the time being, but they will have when the service has 10-15 percent market share.
Yandex team has been doing machine learning with MatrixNet since 2009, while they expect to have much better results as the usage increases, and they are inviting users to the website.
Yandex’s visual and audio searches and e-mail and news services will also be available in Turkey. Yandex CEO Arkady Volozh has said that they are planning to develop in phases in Turkish market, first they will improve the product, and then expand in the market and lastly they will make sales.
Can Yandex Be The Second Search Engine in Turkish Market?
NetMarketShare statistics reveal that Google is the market leader in Turkey with 95 percent share and is followed by Bing with 5 percent share. However we cannot say that Microsoft Turkey is really making much effort for Bing. While the current situation is this in Turkey, the first obstacle in front of Yandex is not Microsoft but Bing. However I believe that most Bing users use this service as it is the standard search service on Internet Explorer.
As a result, I think Yandex follows the right strategy with introducing itself to Turkish market and developing its products with local content. Its aim to target early adopters as the first step supports the idea that it is the right strategy. Also, the fact that Yandex has a team to develop the search engine in Turkey is a very user-friendly approach compared to its competitors and shows how seriously Yandex takes Turkish market.
Original Post: Rus Arama Devi Yandex Türkiye’de