Uber & Yandex is Coming Together To Complete Riding Giants In Russia
Mobile App

Uber and Yandex is Coming Together To Complete Riding Giants In Russia

Both agreed to the deal of $125 million

https://dk2dyle8k4h9a.cloudfront.net/Uber and Yandex is Coming Together To Complete Riding Giants In Russia

Top Companies

01.
InMobi
Singapore
02.
Dot Com Infoway
New York, USA
03.
M&C Saatchi Mobile
New York City, USA
04.
Techmagnate
New Delhi, India
05.
Fetch
London, UK
View full report
Updated On
April 30, 2018 02:52 PM
4 min read

Latest Articles

The carpooling giant is agreed to shake hand with the Google of Russia, Yandex to start a merged venture in the 127 cities. Both the companies have made a deal to start a sharing ride service in the Russian. The Uber got the global expansion opportunity that it's looking for a long time after its exit from China.

The deal is expected to close in the fourth quarter of the year. Both the companies are agreed to serve their joint venture in Russia, Armenia, Azerbaijan, Belarus, Georgia, and Kazakhstan covering almost 127 cities together.

The deal also allows the Uber to contribute its UberEats business in the six-county region.

The deal comprises the $125 million from the Uber and Yandex will invest $100 million. In this new riding service in Russia, the Uber will own 36.5%, Yandex will have 59.3% and the employees having a 4.1% stake.

Uber last year its business in China to the local rival Didi Chuxing in return of 17.5% of stake in Didi which worth $35 Billion. It the biggest investment that Uber has made in a long time. Both the Giants are looking to acquire high revenue from this deal in future.

This new joint venture will face some of the top rivals in Russia including Fasten-owned Rutaxi and Saturn, Maxim, and Gett, It will be quite interesting to see how Uber and Yandex will implement their strategies to outrun the archnemesis.

 

James Lawson
Written By
James Lawson

James is a writer and editor at MobileAppDaily and he is famous as a tech journalist at MobileAppDaily. He focuses on the mobile app startups & ventures and brings them to the light. He has started his career as a tech writer 6 years ago just after completing his degree in Broadcast and Digital Journalism.

Mobile App

Latest Trend On App Store: Pixel Art Coloring Book Apps

Neha Baluni 4 min read  

Sandbox coloring, one of the most popular pixel art coloring book apps are the latest craze among the children. The coloring book apps have remained one favorite of all the time but the current craze is all because of a new twist in coloring app. The app offers a number of picks to the users along w

Mobile App

Uber Was Upset With This Famous Chat App So Made One For Itself

Ariana Johnson 4 min read  

The carpooling service giant undoubtedly has one of the flawless apps for its services. Uber is the leading ride sharing company in many parts of the world. The company has around 14,000 of the employees out of which major portion is taken by the skillful engineers.In the Corporate world to make

Mobile App

Why Standardized Approach was a Better Option for Changing the LinkedIn Mobile App

James Lawson 4 min read  

LinkedIn just like any other social media platform deals with massive amount of data. But, this huge database exactly caused it a problem, when the career website and professional network decided to attempt a redesigning the LinkedIn app for its social media platform.  The main problem was to e

Mobile App

Millennials Decoded: Tricks That will Get Your App on Millennial's Smartphone

Ariana Johnson 4 min read  

Millennials are the center of the target market for mobile app marketers. While they are a tough nutshell to crack but once you’ve caught their attention, you can gather a loyal following. They are demanding impatient and aware users so their app needs to catch up to their fast lives. A genera