Aton: Yandex may leave Turkey in 2016. Yandex denies forecast

    Aton analysts predict the departure of Yandex from the Turkish market in 2016. Analysts at the investment company made this conclusion after a meeting with Yandex Investment Director Ekaterina Zhukova. According to her, the company's EBITDA decreased by 2-3 points in connection with the development of business in Turkey, and the effect intensified due to the devaluation of the ruble.

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    Photo: The Next Web

    Yandex representative Asya Melkumova denied Aton’s forecast , noting that Turkey is a key experiment of the company.
    We are actively developing our presence in Turkey, and as a result, we have seriously improved the quality of the search. According to internal estimates and external researchers, the search for Yandex in Turkey surpassed competing products.
    Yandex has been operating in Turkey since 2011. Turkey became the first country outside the CIS where Yandex began to work. The search engine gained 5% of the market; Google remains the most popular search engine in the country.

    Yandex is actively promoting its services and in 2015 signed an agreement with Mozilla, making its service the default search in Firefox in Turkey. Mozilla previously had a three-year contract with Google, but it was not renewed this year.

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