Russian giant Yandex, an IT firm specializing in web searches, is looking to take a bite out of Google's lucrative online advertising market by launching a new search engine across Poland, reports Puls Biznesu.
The goal would be to establish a strong number-two position in the market. Google enjoys a near monopoly when it comes to handling Polish web searches, with an estimated 97 percent of queries. Google reports Polish annual earnings of zł.700 million and agrowing at a pace of 25 percent per year.
Yandex made a debut on American stock markets in May and collected $1.3 billion (zł.3.6 billion) for future investments.
http://www.wbj.pl/article-55194-russian-firm-to-compete-with-google-in-poland.html?typ=pam