Yandex Buys Entertainment Website
Yandex is getting into the movie business ... sort of. The search engine operator announced today it has acquired KinoPoisk, which it describes as "the largest and most comprehensive Russian-language website dedicated to movies, television programs and celebrities." The terms of the deal were not made public.
Yandex said it will bring its technology to bear on the site, crafting an expanded film recommendation system that can be custom-tailored to a user's tastes and preferences.
According to its new owner, KinoPoisk boasts a global monthly audience of nearly 19 million users, is the 16th largest website in Russia, and has more than 100 million movie ratings.
Yandex said the site will remain parked at its native domain (kinopoisk.ru). Its team will be integrated into Yandex's organization.
As of the end of its most recently reported quarter, Yandex had just more than $188 million in cash and cash equivalents.
The article Yandex Buys Entertainment Website originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Yandex. The Motley Fool recommends Yandex. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.