They had the choice of cash out at 50% value , or roll the dice and hope normalcy returned to Russia before they run out of money and start seizing companies like this and get 0% value.

They count as a company that “left” Russia, so that’s 50% of the lowered valuation due to the war too.

I don’t know Yandex well, but there are a couple of points I found interesting: -The parent company of Yandex was based in the Netherlands.

• That company now sold the operation in Russia.
• Yandex was valued at $30bn in 2021, yet was sold for $5.2bn.
• One of the co-founders of Yandex is openly against the war and the russian government, and is seeking for sanctions against him to be lifted.