News

Uber merges with taxi app Yandex in Russia

Uber merges with taxi app Yandex in Russia

Photo: Bloomberg

The taxi-app Uber brings its activities in Russia, Azerbaijan, belarus and Kazakhstan in a new company that, together with the Russian search giant Yandex is set up.

That the companies announced on Thursday. Uber gets a minority interest 36.6 percent in the new company, with a valuation of 3.8 billion dollar (3.3 billion euro). The share of Uber is $ 1.4 billion worth.

Previously nudged Uber also all of its Chinese operations to competitor Didi Chuxing. Uber got a share of 17.5 percent in that company, with a valuation of $ 50 billion.

In an e-mail to Uber-staff, writes Pierre-Dimitri Gore-Coty, head of the European branch of Uber, the company in the past three years, 170 million dollars invested for 21 towns in four countries. Uber puts out a further 225 million dollars in the new company and all the staff of Uber Russia moves along.

Growth

“This deal is a result of our exceptional growth in the region and will help Uber continue to build a sustainable global company,” says Gore-Coty.

Yandex is in Russia, a lot bigger than Uber; the company is in more than one hundred cities asset with a similar taxi app.

Also the activities of bezorgingsdienst UberEats be included in the joint venture. Consumers in Russia, the Uber app continue to use it. Drivers will be transferred to the app from Yandex.

Loss

With the deals in China and Russia seems to be Uber’s most loss-making parts like punches. The company has its losses in the past quarters and reduce, to 708 million dollars in the first quarter of the year.

In the past months, Uber had to deal with several scandals, which eventually led to the departure of director Travis Kalanick. His replacement is still being sought.

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.

Most popular