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.
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