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30 Top Internet Companies Gross More Than $5Bln in 2012

Internet hypermarket Utkonos started as a catalog order company but is closing its remaining outlets this year. Maxim Stulov

Yandex, and Utkonos took the top three positions as the country's leading Internet companies in rankings by Forbes published Thursday.

Leading search engine Yandex did $947 million in turnover last year, outpaced Channel One in terms of the size of its audience and has consistently maintained market-share superiority over Google.

It suffered a setback in January when the special application it developed to search Facebook was blocked by the social network. made $682 million in 2012, company documents show. Revenue comes primarily from advertisements and apps. The company has a huge audience for its mail services, the social networks VKontakte and Odnoklassniki and the job portal

In 2012, it purchased the domain as part of a strategy to expand abroad.

Utkonos did $300 million in turnover last year. It started in 2000 as a catalog order company with more than 200 outlets, where customers could come and place orders and pick up goods, but it also had an online service.

Management decided to go completely virtual and is closing the last 49 outlets this year. The company now has 40,000 square meters of warehouse space, 5,000 employees and a fleet of delivery vehicles.

Other firms on the list include, and

For publicly traded companies, Forbes used information from their filings to compile the list. Companies that do not publish turnover were rated based on inputs from management, shareholders, competitors and analysts.

Excluded from the rankings are B2B companies, local subsidiaries of international players like Google and Groupon, companies that get less than half of their revenue from the Internet and Web-based banking firms.

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