Sources at Google believe, that Russia has a vast untapped potential, as an online ad market. They hope to be able to tap that potential in the near future.
In fact Google believes that by 2010, the internet advertising market in Russia alone could touch the $1 billion mark. In 2007, the Russian market was worth $200 million, but Google hopes that this spend will seem insignificant in the next few years.
A Russian executive of Google, Vladmir Dolgov, says that the online advertising market, has captured the imagination of people in Russia, and already 75,000 of Russiaâ€™s 3 million registered companies are advertising online. Surely others should follow soon.
While Google continues to compete with Yandex.ru and Rambler.ru, Russiaâ€™s leading search engines and ad networks, and is keen to get more and more searchers on their site, their operations will be controlled from Moscow and St. Petersburg, only, since both are close to the Eastern end of the European union, which makes accessibility to existing operations easier.
Google first entered the Russian market in 2006, with a meager 5 percent of the market share. It now holds over a third of the market according to a report by comScore.