Yandex.Taxi and Uber have joined forces in 6 countries: Yandex.Taxi and Uber have decided to join their activities in 6 countries. The new vehicle sharing model, which will be born with the merger of two major brands, will serve in Russia, Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan.
Russia's online taxi application Yandex.Taxi and the car rental company Uber have signed a big deal. Combining the power of two brands, one of the best examples of digital transformation in the world, has created a new tool sharing model. The new vehicle sharing model, which will be an important alternative to individual car use and public transport, is expected to receive a share of 5-6 from the taxi sector in Russia.
The new application, which will make a significant contribution to the growing digital economy, will work as follows: Yandex.Taxi and Uber applications for users will work as before. Drivers will switch to an integrated platform that allows them to receive users from both Yandex.Taxi and Uber applications. Thanks to the integrated driver platform, the number of vehicles to serve will increase significantly. However, the waiting times of the passengers will be reduced. While passengers have the advantage of traveling at more affordable prices, drivers will be able to serve more customers per hour. To increase the power of the new model, Yandex's worldwide successful navigation and map technologies will also be used.
Users will have the opportunity to experience the advantages of the new model globally. Yandex.Taxi users will be able to call a Uber tool from the Yandex.Taxi app when they go to London or Bangkok, for example. Tourists coming from Paris to Moscow will also be able to call a Yandex.Taxi vehicle through the Uber app. The partnership of the two companies will also include the UberEATS service, an online food delivery application in these six countries.
The value of the partnership was announced as $ 3.73 billion. Uber will invest $ 225 million and Yandex $ 100 million. Yandex will have 59,3% and Uber 36,6% of the new company to be established, while the remaining 4,1% share will be controlled by the employees. The partner company, which will implement the new model, is expected to be operational in the 2017th quarter of 4, with the approval of the regulators.