As I researched two articles on Yandex (NASDAQ: YNDX), the “Russian Google,” one local competitor kept coming up again and again: Mail.ru (Other OTC / Grey Market: MLRYY). As many readers will have no idea about either company, MLRYY competes with YNDX to some degree across almost all internet verticals, but is a smaller company:
Notice the green highlight? MLRYY grew revenues 45.6% last year - although a lot of that growth was due to acquisitions - compared to 37.4% for the better-known YNDX. That deserves further investigation. Furthermore, MLRYY’s 29.2% EBITDA margin