Russian internet search engine Yandex is looking to launch a new cloud business in Germany, the company announced on Friday ahead of its annual Yandex.Scale cloud conference. The business, which it hopes to open in 2022, will take a $30 million investment.
Founded in 2018, Yandex has experienced exponential growth since its inception, with its Yandex.Cloud business unit generating 3 billion roubles in 2021, triple that of its original amount. Despite its strong performances of late, Yandex.Cloud is still one of the group’s smaller earners. Overall, the organization raked in between 330 and 340 billion roubles in total revenue for 2021.
Yandex.Cloud COO Oleg Koverznev revealed that of the company’s 12,400 clients, a substantial amount expressed interest in the company’s decision to provide cloud services in Germany. This enthusiasm convinced the company to inject its initial investment into this endeavor.
“This is a very important step,” Koverznev explained. “We realize that we cannot be a significant global player on the cloud platform market by operating only in Russia.”
Rather than build its own data centers and required infrastructure, Yandex has decided to make use of commercial platforms instead.
