The ride hailing services will merge operations in six European countries and jointly invest $325m in the new entity at a $3.73bn valuation.
US-based ride hailing service Uber agreed to yesterday invest $225m in a company that will merge its operations in Russia and some neighbouring countries with that of Russia-based internet company Yandex.
The entity will consist of Uber’s on-demand ride and food delivery assets in 21 cities across Russia, Azerbaijan, Belarus and Kazakhstan and Yandex’s analogous subsidiary, Yandex Taxi, which was founded in 2011 and which is also present in six countries including Armenia and Georgia.
Taking its assets and investment…
