The collapse of the shares of Yandex, a letter to the investors, and Chrome

unfortunately, past Habra was an interesting story with the first major collapse of quotations of Yandex on Wednesday. Fill in the blanks.

Quotes of the domestic search engine fell by 13.1% to us $22.9 per share, almost twice lower than the highest market price in $from 42.01 per share after triumphant IPO in may this year.



The decline in the shares of Yandex was especially noticeable on the background of rising U.S. stocks.

Payback for honesty

The collapse of quotations was preceded by a meeting of the management of Yandex with representatives of several hedge funds, which among other questions asked about the falling share of the search market Yandex in Russia (according to Liveinternet, the share of Yandex in September decreased to 61.4% with 63% of requests).

Heard by the representatives of hedge funds did not like, and they started to sell shares of Yandex.

Immediately after that, Yandex has sent to shareholders a letter in which he said that the company will actively fight for market share:

Dear investors,

We are grateful for the attention you paid to today's sharp decline in the price of our shares.

Although we cannot confidently speak about the exact reasons for this decline, it can be the result of meeting with group of representatives of hedge funds, which took place earlier today in our office.

During the meeting, the investors are among other things asked questions about the recent reduction in the share of Russian search queries "Yandex" (according Liveinternet.ru) and its particular causes.

The response given by our CEO, Arkady Volozh, was honest and straightforward, as usual, but it could be misinterpreted as gloomy and pessimistic.

As you know, Arkady appreciates the company he built, and the decline in the share of search is in focus of his attention. His candor could be perceived as pessimism about the future of the company.

FYI, the reasons for the recent decline include the increase in the share of Russian search queries in Chrome, including the strengthening of the position in the Google Chrome as well as several reasons that can be characterized as competitive pressure from Google.

Despite the problems with search shares, we are optimistic about the future of the company.
We would also like to note that Liveinternet.ru an important barometer but not the only tool for assessing the quality of search. The company has experience of successful solving of such problems in the past (2007-2008).

We hope that you were helped by this explanation, and I apologize that our frankness in dealing with investors has been abused.

With best wishes, the Department for investor relations "Yandex".

Letter published in his blog analyst Barron's Tirnen ray.

it would Seem, at what here Google?

Google has recently removed from its Chrome browser the choice of a search engine after installation. But only for Russian users, in other countries there is not such restriction. Now user from Russia, installed Chrome, the default can only use search from Google.

It will be hard to Yandex in the struggle with the "Corporation of Good" for a place under the sun.

Upd:

a Google spokesman on Friday confirmed that the selection box of the search engine in Chromium is removed, but this, according to him, error: in the near future will restore the window.

source

Look the source code for Chrome:

bool FirstRun::SearchEngineSelectorDisallowed() {
// For now, the only case in which the search engine dialog should never be
// shown is if the locale is Russia.
std::string locale = g_browser_process->GetApplicationLocale();
return (locale == "ru");
}

(thanks to goshakkk_reborn for comment)

Article based on information from habrahabr.ru