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Yandex Warns Debt May Affect Ability To Continue Operating

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Yandex Warns Debt May Affect Ability To Continue Operating

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Russia’s largest search engine, Yandex, issued a warning March 3, 2022 stating that there are two possible scenarios that could threaten continued operations. Yandex stated that it could operate for many months should either of those scenarios be avoided.

Yandex indicated that current data center and technology capacity will allow it to continue operating for at least one year and up to a year and a half.

But that statement was conditioned on no disruption to supplies, which Yandex said could have a negative impact on operations.

“In the event of any prolonged suspension of supplies of hardware, software or other technology used in our business or offerings, if we are unable to secure alternative sources, our operations could be materially adversely affected over time.”

Yandex Search Engine

Yandex is the most popular search engine in Russia, with user visits reported to be as high as over 60%.

Yandex is also ranked by some measurements as the 8th most popular website in the world, ahead of TikTok, Netflix, Reddit and Amazon, to give a sense of scale and importance of Yandex.

Economic Sanctions Impact on Yandex?

The statement from Yandex indicated that none of the economic sanctions target Yandex or any of its subsidiaries, management, directors or principal share holders. That means at the moment there are no direct impact from sanctions to Yandex.

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Nevertheless, Yandex warned that a continued downturn in the economy could have have negative effect on performance.

“Any prolonged economic downturn in Russia as a result of sanctions, depreciation of the ruble or negative consumer sentiment could have a material adverse effect on our results.”

Threat of Seizure of Control

The announcement observed that it is aware of rumors that control of private companies could be seized by the Russian government. Yandex said that because most of its operations and assets are located within Russia, such a move could have a negative effect on its value.

“…any such action would have a material adverse impact on the value of the Yandex group as a whole.”

Debts Threaten Future Of Yandex

Yandex stated that it has euro-denominated cash reserves equivalent to $615 million dollars, $370 million dollars worth located outside of Russia.

Yandex stated that under rules governing its Convertible Notes due 2025, the principal amount currently at $1.25 billion, Yandex is obligated to notify the holders of those notes of their right to redeem those notes should the NASDAQ suspend trading in their Class A shares for more than five trading days

The statement revealed that Yandex does not have the resources to pay back that debt. It further stated that even if it were able to satisfy paying back a material portion of those notes it would still need to secure financing in order to keep operating.

Yandex stated they are looking to ways to stay afloat:

“We are currently conducting contingency planning to determine what steps we would take in this regard and what other sources of financing would be available to us, in the event that this redemption right is triggered.”

Yandex Warning

Yandex stated that it is currently operating normally but warned that it could not offer assurances in the event of a prolonged economic downturn.

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Citation

Read the Statement from Yandex

Yandex Provides Update on Impact of Current Developments



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Google Announces 5 Changes Coming To Mobile Search

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Google Announces 5 Changes Coming To Mobile Search

At today’s Google’s Search On conference, the company announced it’s rolling out five significant changes to how people search on mobile.

Starting today on the Google app for iOS, you’ll see shortcuts to various actions you can perform other than typing in a traditional search query.

In the coming months, Google is upgrading the mobile search bar with features that will help users find more relevant resultHowway Google displays results on mobile is about to change, becoming more visual with a greater focus on images and video.

Here’s more information on the updates rolling out today and in the near future.

1. Google Search Shortcuts

There are many ways to search Google beyond typing in a text query.

You can find products by uploading screenshots, translate text with Google Lens, or even find songs by humming into the microphone.

Now, on the Google app for iOS, all the advanced methods of searching Google will be more apparent with tappable shortcuts.

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See an example below of what they look like:

Screenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

2. Results In The Search Bar

Google is making finding things in mobile search even faster by displaying links to results in the search bar.

When you start typing, Google will begin populating results before you submit the query

In the example below, you can see Google displaying a link to a location page in the search bar:

Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

This feature is scheduled to roll out in the coming months.

3. Enhanced Query Refinements

Google is making it easier to find the most relevant results by displaying an assortment of query refinements.

As you type a query into the mobile search bar, Google will offer ideas to make your question more specific.

In the example below, you can see Google suggesting different ways to expand on the query “best Mexico cities”:

Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

4. Google Web Stories

Google is making mobile search more visual with deeper integration of Google Web Stories

Google states in an announcement:

“So we’re also making it easier to explore a subject by highlighting the most relevant and helpful information, including content from creators on the open web. For topics like cities, you may see visual stories and short videos from people who have visited, tips on how to explore the city, things to do, how to get there and other important aspects you might want to know about as you plan your travels.”

Here’s an example of what the new layout will look like.

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Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

The way content is displayed almost looks like iOS widgets.

You can tap on the story to open it in full-screen mode.

Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

5. Combining Text, Images, & Video

Google is turning mobile search results pages into an endless feed of discovery.

You’ll no longer have to toggle between the Web, Images, and Video tabs, as Google will display it all on the front page.

Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

Google describes this combination of text, images, and video on the same page as a “reimagining” of the way it delivers search results:

“We’re also reimagining the way we display results to better reflect the ways people explore topics. You’ll see the most relevant content, from a variety of sources, no matter what format the information comes in — whether that’s text, images or video.”

Additionally, you’ll have the option to continue scrolling to explore related queries.

The example below shows the bottom of a search page where you can choose to get more results for your query by tapping “More search results.” Or you explore the query “historic sites in Oaxaca” by scrolling vertically.

Google Announces 5 Changes Coming To Mobile SearchScreenshot from: blog.google/products/search/search-on-2022-announcements/, September 2022.

These new ways to explore information in mobile search are rolling out in the next few months.


Source: Google

Featured Image: Thaspol Sangsee/Shutterstock

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