Uber will be merging with Yandex in six different countries, including Russia, Azerbaijan, Belarus, Kazakhstan, Armenia and Georgia.
San Francisco-based Uber has agreed to invest $225 million (13.5 billion roubles) while Yandex will contribute $100 million into a new joint company in which Yandex will own 59.3 percent and employees will have a 4.1 percent stake.
At the same time, Yandex press service told TASS that the company does not rule out the initial public offering (IPO) for the new Yandex.Taxi and Uber and company. "The new company's goal will be to serve the needs of riders, drivers and cities as we develop a fast-growing, sustainable ridesharing, food delivery and logistics business in the region", Pierre-Dimitri Gore-Coty, head of Uber's business in Europe, the Middle East, and Africa, said in a statement announcing the news. Uber, which raised funds regularly in 2015 and 2016, raised an undisclosed amount from German Investor Axel Springer this year, the only fundraising activity this year according to Crunchbase. The San Francisco based company is known for being aggressive in its approach to entering new global markets and will end the costly battle that the two firms have seen drag on for more than three years since the arrival of Uber in Russian Federation.
The new company will cover 127 cities of 6 countries and carry out 35 million transfers monthly. Uber had to fight regulations on the one side, face angry protests from local taxi unions, and offer deep discounts and promotions in search of market share. The U.S. firm in return got a 17.5% stake in Didi, which at that time was valued at $35 billion.
Following completion, passengers will be able to continue to use either Yandexor Uber apps. Uber had been bleeding money in China.
"Not only is this partnership good news for our two companies, it's also great for riders, drivers and cities across the region".
The difference between the Didi deal and the Yandex deal, however, is that there are no Uber properties that are continuing to operate in China. Once that happens, they plan to integrate their driver apps.
There's one very valuable asset that Djibouti possesses that's of prime concern to global military powers: It's location. Djibouti , which is about the size of Wales, is at the southern entrance to the Red Sea on the route to the Suez Canal.
The police also found the rope, the ladder and the wheelbarrow as well a burning Mercedes in an underground auto park. Police had published footage from surveillance video asking the public for help in finding the thieves.
Because of the fumes the facility stopped new flights and handed off flights in the air to other air traffic control facilities. FAA spokeswoman Kathleen Bergen said that they " expect to resume normal operations in the morning ", according to WTOP .
The Marine Corps said in a statement on Tuesday 15 Marines and a Navy Corpsman were aboard the aircraft and killed in the crash. Law enforcement authorities had received reports that items were being taken from the site, with debris scattered for miles.
The financial details of the buyout deal were not disclosed, but Samsung reportedly paid under $43 million for the acquisition. So Whatever the strategy Samsung is pursuing now regarding the Note 8 launch, it seems to be very aggressive.
Belotti netted 26 times last season for the Serie-A side last term, making him the third highest score in the Italian league. Chelsea could be willing to pay Torino striker Andrea Belotti's £89M release clause, according to the Independent .
However, as of July 11, according to a BBC report, the pop song has been overtaken by the heart-warming ballad " See You Again ". For the last five years, the insanely compelling dance video " Gangnam Style " has dominated the YouTube video leaderboards.
So Griffin departed, immediately becoming a desirable option for any team looking for someone to run its basketball operations. With Griffin's pull-out, Steve Mills will continue his work as general manager until the Knicks find a replacement.
Nissan said the new recall affects just over 515,000 Versa subcompact hatchback and sedans from the 2007 through 2012 model years. Honda said the vehicle's registered owners had received at least 12 recall notices but never got recommended repairs.
FBI's Search for 4 Missing Pennsylvania Men Leads to an Arrest
SOLEBURY TWP, PA Cosmo DiNardo has been identified by authorities as a "person of interest" in the disappearance of four men . Fox 29 reports a auto belonging to Sturgis was found on Monday morning, although this has not been confirmed by authorities.
US VP prays for Charlie Gard amid deadline
The hospital said he shouldn't be moved, suing the parents in court to keep him there and "die with dignity". Charlie suffers from mitochondrial depletion syndrome, which saps the energy from his organs and muscles.
Explosion confirmed at USAF Recruiting Center in Oklahoma
Agents are investigating the possibility that the explosion was an incident of domestic terrorism, according to the Tulsa World . Federal officials are investigating an explosion at an Air Force recruitment base in a strip mall in Bixby, southeast of Tulsa.
'The Table Was Marble This Whole Time!'
Kim Kardashian has denied claims that there were lines of cocaine in the background of a social media clip she released. Taking the purported container out of her purse, she declared, 'I have never done coke; I'm just not into that stuff.
Kashmir civil society groups to protest killing of Amarnath
He said he and his friends had not made plans to join this year's yatra , but had suddenly chose to sign up for the pilgrimage. It is also reported that the bus company did not follow the norm of registering the vehicle with the Amarnath shrine board.
Japan floods death toll rises to 15
Volunteers from within and outside Fukuoka began gathering in Asakura to help remove sand and soil from houses. Kyushu is the name of the southwestern main island that includes Fukuoka and Oita.