, Columnist
Russia’s Tech Giant Tests the Limit for Superapps
Yandex's fintech move is smart, but don’t underestimate political and regulatory risks in Vladimir Putin's Russia.
Yandex’s rise has been remarkable.
Photographer: Andrey RudakovThis article is for subscribers only.
The acquisition of Russia’s largest digital bank will accelerate Yandex’s progress toward superapp glory. With the $5.5 billion cash-and-stock deal as sketched out last week, what began as a homegrown Google would run the gamut from search, ride-hailing and music streaming to cards and deposits. It’s an accomplishment even Asia's pioneering apps-for-everything have struggled to achieve.
With added clout, though, come extra political and regulatory risks that are harder to quantify.