Yandex Contributes its Yandex.Drive Car-Sharing Business to Yandex Taxi Group
Yandex N.V. (NASDAQ and MOEX: YNDX) today entered into an agreement
with Uber to contribute the Yandex.Drive car-sharing business from
Yandex N.V. to MLU B.V. (MLU), Yandex’s ride-hailing and foodtech
joint venture with Uber.
Following the addition of Yandex.Drive to MLU,
Yandex will own 61.7% of MLU, while Uber will own 33.5% of the
issued share capital of the company. The remaining shares will be
reserved for MLU management and employees.
Yandex.Drive was developed by Yandex in February 2018. It offers
on-demand access to a fleet of 16,000 cars in Moscow, St
Petersburg, Kazan and Sochi, making it the largest free-floating
car-sharing platform in Russia and the world. Since its launch,
users have completed more than 73 million rides on
Yandex.Drive has benefited from tight integration into the
Yandex ecosystem, as well as its ability to attract top talent and
access to the world-class technologies that Yandex has been
developing for over 22 years. It boasts unique proprietary
technologies for dynamic pricing, speed monitoring, driving
behavior analysis, remote fleet management and vehicle condition
monitoring. The service provides a personalized user experience via
integration with the Yandex.Auto in-car infotainment system, which
integrates Yandex.Navigator, Yandex Music, and Yandex’s
voice-controlled intelligent assistant Alice.
The contribution of Yandex.Drive to Yandex Taxi Group mobility
services opens up new synergies for users and the company’s
partners. For example, the integration of Yandex.Drive into the
recently launched Yandex Go app expands transportation alternatives
for users, and will allow the service to offer our users a wide
variety of transportation modes. In terms of partners, our
ride-hailing drivers will get access to short-term car-sharing
rentals that will allow them to reduce their car rental costs,
while usage of car-sharing autos mean drivers will no longer need
to worry about car rental deposits, cleaning, fueling or returning
the car to a taxi fleet management company.
The Yandex.Drive team under the management of Anton Ryazanov,
who founded the service within Yandex, will continue to develop the
car-sharing offering as part of MLU and will report to Daniil
Shuleyko, CEO of the company.
Following the transaction, Yandex.Drive results will be
disclosed separately in the Taxi segment financials. The
transaction is subject to customary closing conditions and is
expected to close in the third quarter of 2020.
For further information, please visit
http://company.yandex.com or contact:
MLU B.V.Investor Relations Katya ZhukovaPhone:
+7 495 974-35-38E-mail: askIR@yandex-team.ru
Press Office: Ilya GrabovskiyPhone: +7 495 739-70-00E-mail:
About MLU B.V.
MLU was created in February 2018 when Yandex
(NASDAQ and MOEX: YNDX) and Uber (NYSE: UBER) combined their
ride-hailing and food delivery businesses across Russia and six
neighboring countries. As of today, it operates Yandex.Taxi, Uber,
Yango and Yandex.Go brands in 18 countries and offers ride-sharing,
car-sharing and logistics services, public transport schedules, as
well as food and grocery delivery services through Yandex.Eats and