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“Yandex” and join Uber, the online transportation in Russia

“Yandex” and Uber signed an agreement to merge the businesses of online travel arrangements. This is stated in the press release of the Russian company. The business is estimated at $3,725 billion.

Under the agreement, Yandex and Uber are investing respectively $100 million and $225 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.

For the users nothing will change, promise in the company: to order travel 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.

“This will allow drivers to obtain more orders per hour, and passengers — to keep affordable the cost of the trip,” said Tigran khudaverdyan.

“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”, — he said.

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.

It is expected the deal will be closed in the IV quarter of 2017. 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.

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