Yandex, Uber unite taxi order services

Yandex, Uber unite taxi order services

The companies Yandex and Uber announced the completion of the deal to combine their taxi calling services.

The united company was headed by the head of Yandex.Taxi Tigran Khudaverdyan. The board of directors includes four representatives of Yandex (including one of the founders Arkady Volozh) and three representatives of Uber.

"At the close of the deal, Uber and Yandex invested $225 million and $100 million, respectively, in the new company. <...> [The company] is estimated at more than $3.8 billion. About 59.3% of the company is owned by Yandex, 36.9% by Uber, and 3.8% by employees," Yandex reports.

Yandex.Taxi and Uber announced the creation of a joint company for work in Russia, Belarus, Kazakhstan, Georgia, Azerbaijan and Armenia in July 2017.

Users will still be able to order a taxi in each of the applications separately, but drivers will be combined into one platform. The companies say the cost of travel should not change.