(Corrects headline and first paragraph after company says Segalovich in coma, not dead, as it previously announced)
MOSCOW, July 25 (Reuters) - Ilya Segalovich, the co-founder and chief technology officer of Russian internet group Yandex , is in a coma, suffering with complications from cancer, the company's chief executive said on Thursday.
Segalovich and Yandex CEO Arkady Volozh founded the company in 1997 and built it into the leader of the Russian internet search market, ahead of U.S. rival Google.
In 2011, Yandex raised $1.4 billion in an oversubscribed initial public offering in New York and it currently has a market value of $10 billion.
Segalovich had been diagnosed with a treatable form of cancer and was responding well while working a full schedule, before unexpectedly having complications, Yandex said. (Reporting by Maria Kiselyova; Editing by Megan Davies)