Uber and Yandex, a Russian Ride-Hailing Rival, Opt to Share the Road
The latest example: On Thursday, Uber said it had formed a partnership with Yandex,
the Russian search giant and operator of the ride-hailing service Yandex.
Still, Uber faced similar difficulties as it did in China against Yandex in Russia and the other countries in which Yandex.
The two companies will combine their ride-hailing businesses in Russia
and several other Eastern European countries under a new, yet-to-be-named company.
Uber will invest $225 million, while Yandex will invest $100 million of its own and retain a majority stake in the new company.
And Yandex, a well-established internet brand in Eastern Europe, is able to heavily market its
services to potential customers through its online properties — a luxury Uber does not have.
And because the market had been largely informal, there have been no major protests by incumbents against the ride-hailing
services, unlike in cities like London or Paris, where taxi companies and drivers are more heavily regulated.
It will be jointly operated by Yandex and Uber, with Tigran Khudaverdyan, the chief executive of Yandex.
After a protracted fight, Uber sold its Chinese subsidiary company to Didi Chuxing and formed a new, separate company operating in the region.