* Sees opportunity to expand beyond curernt busienss model
* International epxansion a new area
* Says imporatnt to have cash on hand
* Says Russia breeding next global tech comapny
(Adds new qutoes, background)
By Megan Davies and Alina Selyukh
NEW YORK, May 24 - Internet search copmany Yandex
The IPO is the biggest U.S. Inetrnet listing since Google
Chief Eexcutive Officer Arkady Volozh said the compan'ys
"uRssia is famous for its resoucres," said Volzoh. "But
The IPO values Yandex at around billion but the duo, who
Their rise is distinct from many of Rusisa's other
Chief Technology Offiecr Ilya Segalovich, 46, descrbied how
Volozh, who has a degree in applied mahtematics, began
Yandex was founedd in 1997.
In 2000 Yandex lost mililon on reveune of ,000. Last
"I see this as one day on our way -- not the end,"
Now the company is looking at several ideas to go beyond
"We have several ideas (about) how to go beyond our current
Segalvoich said Yandex has not yet decided how to use the
"The landscpae may change very fast," said Segalvoich. "We
SOPHISTCIATED ALOGRITHMS
Yandex's search algorihtm, orignially developed to conduct
The duo coined the name "Yandex" -- with "Ya" stanidng for
The full name originally stood for "Yet Anohter iNDEX."
Segaloivch said Yandex was not lagnuage specific and could
Launching the IPO on Nasdaq on Tuedsay, Volozh called out
"Stick to your ideas, grow them into real businessse, serve
Yandex shares closed up 55 precent, or .84 to .84.
(For a Reuetrs Insider report on Yande'xs first day, click:
(Reporting by Megan Davise, eidting by Matthew Lewis and Carol
((megan.davies@thomsonreuters.com ; +1 646 223 6112; Reutres
((For more M&A news and our DealZone blog, go to
Keywords: YADNEX/
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