February 7 , 2018 – FRN –
Yandex.Taxi and Uber have closed a deal to share their online taxi order services in Russia and the CIS countries – Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan. The united company is headed by the former general director of Yandex.Taxi – Tigran Khudaverdyan. The board of directors include four representatives from the Yandex search engine, including its co-founder and head Arkady Volozh, and three more from Uber.
By the time the deal was closed, Yandex invested $100 million into the new company, Uber – $225 million. It is estimated to be worth $ 3.8 billion. The search engine owns 59.3% of the newly formed company, Uber – 36.9%. Employees own 3.8%.
Both Yandex.Taxi and Uber will still be available to users. Drivers will move to a single technological platform, while customers can order from whichever platform they like.
The new company also includes the new food delivery service – UberEATS.
Khudaverdyan explained that the two companies have merged platforms in Russia and the CIS, to provide a “roaming” service in this region. That is, when Russian passenger fly into London or Bangkok, the can order Uber from their Yandex.Taxi application. Similarly, tourists from France or elsewhere who are headed to Russia, can order Yandex.Taxi from their Uber application.