By ANDREW KRAMER and EVELYN M. RUSLI
Shares of Yandex, a Russian search engine barely known in the United States, surged by more than 55 percent on Tuesday, signifying the latest multibillion-dollar technology offering and stoking the debate about whether this market has the makings of a bubble.
The Russian Internet market is the second largest in Europe, after Germany, according to a report released on Friday by the Boston Consulting Group. The report estimated online commerce in the country will increase to 3.7 percent of the gross domestic product by 2015 from 1.9 percent in 2009, as broadband makes its way into the Russian provinces.
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