Russian tech giant Yandex to invest $400 million in Turkish market
Russian technology and internet leader Yandex has announced plans to invest $400 million in Türkiye to tailor its information technology products for the local market, expand its presence, build additional infrastructure and boost development in the sector.
Türkiye ranks among the top 10 countries globally for internet usage, according to Alexander Popovskiy, Yandex Search Türkiye CEO, who spoke to Anadolu Agency on Wednesday, 23 October 2024. He confirmed that the investment will ensure all personal data collected by the search engine remains stored within Türkiye.
Popovskiy emphasised that Yandex is focusing on the Turkish market to deliver benefits that address the specific needs of regional users, with products designed and developed accordingly.
Over the initial three-year period, Yandex will concentrate on generating hundreds of new digital sector jobs in Türkiye whilst accelerating the development, localisation and distribution of its technologies.
A new artificial intelligence-powered search engine will be specifically created for Turkish users to improve search efficiency in the coming months, Popovskiy revealed.
The company is collaborating with Turkish technology firms and startups, with its digital advertising solutions already helping some local businesses grow. Yandex also offers Cloud, Weather and Maps applications, with approximately 40 Turkish startups currently using these services free of charge.
Popovskiy stated that efforts to enhance these services will continue as Turkish enterprises benefit from these business-to-business solutions.
The substantial investment will support advancements in digital advertising, machine learning, high-capacity systems and artificial intelligence—directly contributing to Türkiye’s digital economy with solutions tailored specifically to the region.
Regarding artificial intelligence, Popovskiy explained that Yandex develops “hyperlocal” products that incorporate local language and cultural elements to better serve the country according to its specific requirements.
He added that the long-term investment strategy aims to maintain Yandex’s position as a business partner to Türkiye, continuing to offer increasingly advanced technological solutions whilst developing existing services in the region.
The Libyan Express’ correspondent in Istanbul has observed a striking marketing offensive from Yandex across the metropolis in recent days. The campaign features eye-catching billboards and digital displays strategically positioned along Istanbul’s busiest thoroughfares, including Bağdat Avenue and İstiklal Street.
This comprehensive publicity drive extends beyond outdoor advertising with polished, high-production commercials now running frequently on prime-time television slots and as unskippable pre-roll advertisements on YouTube, signalling the Russian tech giant’s determination to rapidly establish brand recognition in this key emerging market.
