by Courtney Weaver
“The moment had been waiting for investors Mail.ru and Yandex, has arrived: Russia has finally become the largest market of Internet in Europe, surpassing Germany” – Courtney Weaver writes the blog Financial Times .
According to research firm comScore, in Russia in September was 50.8 million Internet users, compared with 50.1 million in Germany. And fortunately for those who bought shares in the heavenly realms prices of Internet companies, such as Mail.ru and Yandex, a market is still much room for growth.
Last year, Mail.ru and Yandex have tried to justify the price at which their shares were offered at initial occupancy. Global Depository Receipts Mail.ru, which were quoted in London at a price of 27.70 dollars per share, in the beginning of last month were worth only 25 dollars. On Monday the price reached 31.82 dollars.Yandex shares traded in New York, proposed initially by $ 25, on Monday traded at 25.43 dollars.
The value of shares indicates that the initial estimates were too high. However, both companies have surprised the market higher-than-expected revenue in the third quarter.
Now, Mail.ru and Yandex have to convince investors that they have not only the most general, but also the deepest in Europe, the demographic base. By the number of hours carried an average user on the Internet, Russia still lags far behind countries such as Britain, the Netherlands and Turkey.