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Peter Kovalev | TASS | Getty Images
Yandex.Drive carpool service cars seen by St. Isaac's Cathedral in St. Petersburg, Russia.
According to Yandex, its carpooling activity has been profitable in Russia since the third quarter of last year. And now, Abovsky said, his taxi business – including growing markets – is profitable.
"I think it's a kind of unique situation that makes this badet very attractive," he said.
Abovsky admitted, however, that some investors could be at a disadvantage by investing in a Russian company such as Yandex.
"There is certainly a group of investors much more focused on the US, Asian markets, which, for whatever reason, can not affect a company whose main business is located in Russia," he said. "But at the same time, a very large group of investors are focusing on the value embedded in Yandex and trying to do the work … and finding, somehow, the hidden value that's there find."
Being a Russian company, he said, "creates opportunities, as well as dissuades some people".
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