November 30, 2011
Moscow and Prague, November 30, 2011. Yandex (NASDAQ: YNDX) has announced a partnership with Seznam.cz, the largest web search engine and information portal in the Czech Republic with 56% search market share, according to TOPlist (November 2011). Today, Seznam.cz has launched a video search service, videa.seznam.cz, developed by Yandex.
The new video search engine is based on the Czech language, and takes into account the Czech grammatical structure. Users will also soon be able to automatically correct spelling mistakes and typos in their search queries using the service. Yandex has expanded its team to include members from the Czech Republic.
Seznam’s new service is based on the same technology as Yandex.Video, Yandex’s video search service for the Russian-speaking audience. Users can search for videos both on the Czech internet and across the entire web. Videa.seznam.cz searches on more than 200 Czech video resources and currently works directly with twelve major video hosting services, including Idnes.cz, Stream.cz and Voyo.
“Yandex and Seznam first met ten years ago and have since stayed in touch, sharing our experiences,” says Arkady Volozh, CEO of Yandex. “Our companies have a lot in common. Like Yandex, Seznam is the leader in its home market, despite the presence of major global players. We are glad that we are now not just colleagues, but partners who share technologies with each other.”
“Seznam.cz and Yandex both share the same goal of keeping the world of search diversified. We are happy that the mission of the company whose video search technology we chose out of four competing search providers was similar to ours. We also appreciate long-term partnerships and are happy that Seznam.cz together with Yandex will bring video search to Czech users,” says Pavel Zima, Chief Executive Officer of Seznam.cz.
Every day, about three million web users visit Seznam.cz. Over 5% of queries on the web portal are related to video search.
Seznam.cz is the largest Czech Web portal visited by every Czech internet user at least once a month. On its homepage it provides up-to-date news, information and e-mail, as well as search engine and links to field-specific websites also belonging to Seznam.cz (such as real-estates offers, car offers, etc.). Seznam.cz uses its own search engine technology. It is the only Latin alphabet technology all over the world that managed to keep the majority on the local market in spite of Google´s presence and trial to change this situation. For information about all the services Seznam.cz provides, please visit http://onas.seznam.cz/en/advertising/our-internet-servers/.
Yandex (NASDAQ: YNDX) is the leading internet company in Russia, operating the country’s most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex’s mission is to answer any question internet users may have.
This press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the development of video search in the Czech market and success of Yandex’s video search service. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, user preferences, competitive pressures, changes in the legal and regulatory environment, and technological developments, as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Prospectus dated May 24, 2011, which is on file with the Securities and Exchange Commission and is available on our investor relations website at http://company.yandex.com/investor_relations/sec_filing.xml and on the SEC website at www.sec.gov. All information provided in this release is as of the date hereof, and Yandex undertakes no duty to update this information unless required by law.
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