“Yandex.Taxi” joined Russian business Uber

“Yandex.Taxi” joined Russian business Uber

Moscow. July 13. INTERFAX.RU – “Yandex.Taxi ” and Uber signed an agreement to merge the businesses of online travel arrangements in Russia and in some countries, business is estimated at $3,725 billion, said in a joint message of the companies.

Under the agreement, Uber and “Yandex” will invest, respectively, $225 million and $100 million in the new company. Control (59,3%) on new business will be “Yandex”, another 36.6% of the Uber, and the remaining 4.1 percent are owned by employees of the two companies. Run the company the General Director “Yandex.Taxi” Tigran Khudaverdyan.

As explained in “Yandex”, after the merger for users of services, nothing will change: for travel arrangements will still be available to both applications. The drivers will be merged into a single platform. This will allow them in one app to receive orders from the “Yandex.Taxi”, and Uber. It is expected that such consolidation will increase the number of available machines, will reduce the waiting time and idle run.

“In addition, we Uber has agreed to the roaming agreement in the countries where the companies operate. For example, on arriving in London or Bangkok, you will be able from the app “Yandex.Taxi to” order Uber, and tourists from Paris – book “Yandex.Taxi” Uber” – said khudaverdyan.

The combined company will operate not only in Russia but also in Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan. In addition, the new company will take over the delivery service UberEATS in these countries. The transaction will result in “Yandex” for the first time will have the opportunity to enter the market of food delivery.

It is expected the deal will be closed in the IV quarter of 2017. The transaction was approved by the boards of Directors of Uber and Yandex. It is also subject to approval by the regulatory authorities. According to “Yandex”, the company provide a total of more than 35 million trips per month, and their number has grown by 400% year-on-year. The main competitor of the service – Gett – refused to comment on the potential impact on business enterprises Uber and “Yandex”.