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Russia: Yandex enters joint venture with Uber

 |  July 16, 2019

Russian internet company Yandex’s  joint venture with Uber has agreed to buy Russian taxi firm Vezet’s core business, further cementing Yandex’s role as a major online taxi operator in Russia and neighboring countries.

Taxi, ride sharing and car sharing services have been booming in Russia over the last couple of years after a number of foreign and domestic players invested in online platforms for such businesses.

Yandex, widely known as “Russia’s Google” for its array of online services from internet search to email and taxi reservations, said on Monday that the joint venture, MLU, has agreed to acquire the Vezet Group’s IP and call centers in Russia.

Full Content: Reuters

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