Yandex IPO date drawing near

It finally looks like Yandex’s IPO is drawing near. I’ve long maintained the company will have a powerful IPO, and I ranked it as my second-favorite IPO on my ‘Unofficial Tech IPO Calendar for 2011.’

Yandex may file for an IPO with the U.S. Securities and Exchange Commission in weeks, and the company could go public as soon as June, according to a report from Bloomberg

UPDATE: Yandex’s IPO date is set for May 24, 2011 on the NASDAQ under ticker “YNDX.”

Yandex operates the most popular search engine in Russia. Yandex.ru is also the most-visited Web site in the country and the 24th most-visited Web site in the world (per Alexa).

The site’s managed to resist aggressive competition from Google, Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) with Yandex’s search market share in Russia rising from 52.4 percent in December 2009 to 55.5 percent in December 2010. Those gains could get a further boost after the company inked a deal late last year to integrate Facebook into its pages.

Revenue at Yandex surged 43 percent last year to $410 million, Bloomberg reports, with the total number of advertisers on the site growing by more than 40 percent to 180,000+. I’ve long maintained that Yandex will have a powerful IPO, and I ranked it as my second-favorite IPO on my Unofficial Tech IPO Calendar for 2011. First place? That goes to Chinese social networking site RenRen.com.

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