Uber, Yandex Combine Ridesharing and UberEATS in Russian Markets in a $3.72B JV

“This combination greatly enhances Yandex’s ability to offer better quality service to our riders and drivers, to quickly expand our services to new regions, and to build a sustainable business,” says Tigran Khudaverdyan, CEO of Yandex.Taxi, in a statement. “The combined companies currently perform over 35 million rides a month while growing over 400% year-over-year. Since founding Yandex.Taxi in 2011, we have connected tens of millions of riders and drivers to become the largest and most trusted ridesharing business in Russia and neighboring countries. We are excited to expand on this foundation in collaboration with Uber.” Khudaverdyan will become the CEO of the combined company.