Yandex has reported for the first time the financial results of its new division Yandex B2B Tech, formed last fall on the basis of the Yandex Cloud platform, including AI technologies for business, and the Yandex 360 virtual office. The revenue of the Yandex B2B Tech divisions for 2024 amounted to RUB 32.2 billion, which is 48.4% more than in 2023.
According to Yandex estimates, Yandex B2B Tech’s market share was 13% last year. The company expects the market volume to grow to RUB 510 billion in 2028 from RUB 240 billion in 2024, showing a compound annual growth rate (CAGR) of about 21%. At the same time, Yandex expects Yandex B2B Tech to outpace the market in terms of growth rates.
Yandex Cloud revenue increased year-on-year by 1.5 times to RUB 19.8 billion. More than half of this amount (51%) came from contracts with large companies. The number of Yandex Cloud clients increased year-on-year by 1.5 times to 44 thousand, the number of partner integrators increased by 1.3 times to 674.
By the end of the year, Yandex Cloud had 73 services. The highest revenue growth rate was demonstrated by information security services — 2.1 times. They are followed by the Yandex DataLens BI tool (2 times growth) and AI services (1.6 times growth), whose share in the platform’s total revenue increased to 5%. The number of users of the YandexGPT model exceeded 17 thousand, and the YandexART neural network is used by more than 6.5 thousand clients. In 2025, the share of AI services in Yandex Cloud’s revenue is expected to grow to 8%.
Among the company’s achievements, the company named the introduction of a new on-premises delivery model, allowing enterprises to use some solutions not only in the cloud, but also on their servers, including solutions such as YandexGPT, DataLens, YDB DBMS and Yandex SpeechKit. The platform for creating AI-based applications Yandex Cloud AI Studio and the AI Assistant API tool for developing personalized assistants were presented, as well as a number of products for developers, including the SourceCraft platform. The Yandex Security Deck service, which allows identifying cyber threats and reducing the risk of leaks in digital products in the cloud, and the Yandex BareMetal service for renting dedicated physical servers, were also launched.
In turn, the Yandex 360 virtual office brought in almost 1.5 times more revenue year-on-year in 2024, reaching RUB 12.4 billion. More than half of the amount was received in the B2B segment, whose revenue more than doubled. The most popular services among B2B clients last year were Mail, Calendar, Disk, and Telemost. The number of clients of Yandex 360 paid services amounted to 151.5 thousand at the end of 2024, of which more than 25 thousand were new clients.
Last year, Yandex 360 clients were given the opportunity to use services on-premises. The first of these was Yandex Boards, and this year, services such as Documents and Disk will be available on this model. Yandex 360 also introduced a role-based model for distributing access rights, support for authorization via corporate SSO, a shared disk, and the ability to create federations with organizations with which it is important to be in constant contact.