Russian tech company Yandex plans USD400M investment in Türkiye
Date
10/23/2024 8:47:00 AM
(MENAFN) Russian multinational technology company Yandex has announced plans to invest USD400 million in Türkiye to localize its information technology products, broaden its presence in the country, enhance infrastructure, and expedite development efforts. According to Alexander Popovskiy, CEO of Yandex Search Türkiye, Türkiye ranks among the top ten countries for internet usage. With this investment, he emphasized that personal data stored by the search engine will remain within Türkiye's borders.
Popovskiy pointed out that Yandex aims to focus on the Turkish market by aligning its products with the needs of local users. He stated that the company's offerings will be specifically designed and developed to cater to regional requirements. Additionally, he revealed plans to launch a new artificial intelligence (AI)-powered search engine tailored for the Turkish market, which is expected to improve search efficiency in the coming months.
Yandex is also collaborating on joint projects with Turkish tech firms and startups. The company's digital advertising products have already contributed to the growth of various local businesses. Besides digital advertising, Yandex provides services like its Cloud, Weather, and Maps applications, with approximately 40 Turkish startups currently benefiting from these services at no cost.
Popovskiy emphasized that the investment would significantly contribute to Türkiye’s digital economy by supporting developments in digital advertising, machine learning, high-capacity systems, and AI, all tailored to the region. He also explained that Yandex is focused on creating "hyperlocal" AI products that incorporate the Turkish language and cultural dynamics to better serve the needs of the country and its people.
The long-term vision for this investment is to establish Yandex as a reliable business partner in Türkiye, continually offering advanced technological solutions and improving existing services already provided in the region.
MENAFN23102024000045015839ID1108811120
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.