Yandex once again spins off Yandex Market into separate company

MOSCOW. Dec 3 (Interfax) - Yandex Market has been spun off into a separate legal entity owing to reorganization.

Unified State Registry of Legal Entities (USRLE) data indicate that the decision to spin off the marketplace into an LLC was reached in August 2024.

IPJSC Yandex is the sole owner of Yandex Market LLC. Roman Maresov, who manages the e-commerce block at Yandex, is the CEO.

Yandex Market's authorized charter capital totals 1 million rubles.

A Yandex Market representative previously told Interfax that reorganization was a technical procedure to optimize the structure of the company's legal entities.

"This change will not affect the operation of Yandex Market in any way. The entire process will be seamless for the service's partners," the company said.

Yandex Market was a separate legal entity prior to this from 2016 to 2021, and was part of a Yandex and Sberbank joint venture for part of the period. The JV was registered in the Netherlands under Yandex.Market B.V. Yandex then decided to remerge the LLC after dividing the JV's assets with Sberbank.