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Russia: Confidence drops in top search engine after Google left unpunished

By  |  January 15, 2013

Russian search engine Yandex is feeling the ripple effect from the recent decision by the FTC to let Google off without repercussions. Yandex’s shares reportedly fell .2 percent on the Nasdaq Composit Index as Google’s rose 2 percent, creating the widest price gap between the two competitors since last October. Analysts are attributing the hit to a loss of investor confidence in Yandex, some of whom expect to see Yandex sell off some of its share to Google. Yandex holds more than twice the market share of Google in Russia, according to reports, and will now face mounting pressure from Google as it looks to extend international business.

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