Yandex Buys Stake In Russian Online Crowd-Editing Application Developer Citrea

Yandex’s start-up financing wing Yandex.factory has invested an estimated USD 50,000 in Yekaterinburg’s Citrea. The target company is developing and online text-editing application that can be accessed by several users. The ‘crowd-editing’ company is currently in stealth mode, and first met up with the investors at the Yandex.start event in their home town in. December 2011. Yandex’s investment spree this year includes Timebooker and Zenmoney.ru.