Russian web search firm Yandex's co-founder dies
MOSCOW (Reuters) - The co-founder and chief technology officer of Russia's market-leading internet search engine company Yandex has died after treatment for cancer, the Nasdaq-listed company said on Sunday.
Ilya Segalovich, aged 48, founded Yandex in 1997 with Arkady Volozh, the company's chief executive officer.
He passed away on Saturday after falling into a coma and being taken off of life support by doctors, Volozh said in a statement on the company's blog.
The duo coined the name "Yandex" - with "Ya" standing for the Russian equivalent to English pronoun "I" and the full name originally stood for "Yet Another iNDEX" but today is synonymous with internet search in Russian-speaking countries.
Yandex raised $1.4 billion in an oversubscribed initial public offering in New York in 2011 and it currently has a market value of $10 billion.
The company had a 61.7 percent share of the Russian search market in the second quarter, ahead of Google and Russian rival Mail.Ru Group, it said on Thursday.
(Reporting by Maria Kiselyova; Writing by Alissa de Carbonnel. Editing by Jane Merriman)
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- U.S. freeze shows no sign of weekend melt after deadly storm
- Flights delayed as air pollution hits record in Shanghai
Nelson Mandela: 1918 - 2013
Reuters looks at the life and times of Nelson Mandela, an icon of peace and reconciliation who came to embody the struggle for justice around the world. Video