Celebrating the annual Yandex.Scale conference, the company has announced plans to launch the Yandex Cloud business in the German market with an initial investment of $30m.
Yandex.Cloud’s revenue is seen tripling to around 3 billion roubles in 2021 but, having launched in 2018, it remains one of Yandex’s smaller business lines. Group revenue for 2021 is seen at between 330 and 340 billion roubles.
Yandex.Cloud COO Oleg Koverznev has been quoted in various outlets:
This is a very important step. We realise that we cannot be a significant global player on the cloud platform market by operating only in Russia.
Yandex.Cloud has around 12,500 clients, and with a growing interest from outside of Russia – the interest being shown by companies from the German market has both warranted and prompted the investment.
Initially, Yandex will use existing, commercial, platforms in Germany to support its services and if growth continues, may then look to build their own data centers in the country.