The future in Russia for Uber is a partnership with Russian company Yandex.
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After launching in Moscow three years ago, Uber‘s joining up with Russian company Yandex, which offers a service called Yandex.Taxi, to combine their ride-hailing services, Uber said in a blog post Thursday.
They’ll form a new company, including the UberEATS service that will cover Armenia, Azerbaijan, Belarus, Georgia, and Kazakhstan, in addition to Russia.
Uber will be making a $225 million cash investment into this new combined company.
Yandex and Uber did not immediately respond to a request for comment.
“Combining our business with Yandex will give us a very significant stake in a new company which will initially serve more than 35 million trips each month and operate in an incredible 127 cities in six countries across the region,” said Pierre-Dimitri Gore-Coty, head of Uber’s business in Europe, the Middle East and Africa in the post.
In a blog post from Yandex.Taxi, CEO Tigran Khudaverdyan also said he would serve as CEO of this new company.
