Yandex agrees to buy 100% of K50 company from the current owners - venture capital fund AddVenture Capital and management. It is a platform for managing contextual advertising. The cost of the deal was not disclosed.
K50 provides services for improving the effectiveness of contextual advertising. The deal will enable K50 to scale its business using Yandex technologies and infrastructure. As a result of the deal, the IT company will help advertisers use digital channels more efficiently.
Advertising is Yandex's main source of income. In the second quarter of 2020, the company's advertising revenue decreased by 15% compared to the same period in 2019, to 24.8 billion rubles.
All K50 employees will join Yandex, and the company's CEO Maria Opritova will continue to lead the team.