What's next for tech giants?

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In 2024, Yandex's Russian assets, grouped into the international public joint-stock company Yandex, were sold to the closed-end mutual investment fund Consortium. First. The transaction amounted to RUB 475 billion. RUB 230 billion of this amount was paid in cash in Chinese yuan. The remaining amount was paid by transferring 176 million Yandex Class A shares (49% of the total number of shares of this type, with one vote per share).

35% of the closed-end mutual fund Consortium. First belongs to the Managers Fund, created by top managers of Yandex. Other participants in this consortium are the founder of the Leta Capital fund Alexander Chachava, the closed-end mutual fund Argonaut (represents the interests of the main owner of LUKOIL Vagit Alekperov), JSC IT Development (represents the interests of the general director of the specialized depository Infinitum Pavel Prass) and businessman Alexander Ryazanov.

Yandex retained only 5% of its assets and employees. Among other things, Yandex retained: a startup in the field of graphic computing in the field of AI Nebius AI, a startup in the field of generative AI Toloka AI, a developer of unmanned transport Avdrive, an educational platform TripleTen, a data center in Finland, and a minority stake in the developer of databases ClickHouse.

In Q1 2024, the revenue of startups retained by Yandex amounted to RUB 1.045 billion. Adjusted EBITDA (earnings before taxes, interest on loans, and depreciation and amortization expenses) was negative — minus RUB 6.4 billion. Net loss amounted to RUB 7.26 billion.

The company itself was renamed Nebius. Arkady Volozh returned to its management. The hong kong whatsapp number list company is awaiting the restoration of its listing on Nasdaq.

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The investigations against Google, Apple, Meta* and Amazon could be game-changers for the tech industry. The fines they face run into the tens of billions of dollars. Moreover, the companies could face restrictions on the use of their key products, which could significantly affect their market positions.

As the Microsoft example shows, antitrust cases can not only curb corporate influence, but also set new standards for the entire industry.

*banned and recognized as extremist in the Russian Federation