Gett, an international on-demand transportation, delivery and logistics company (previously known as Gettaxi), intends to invest no less than $100 million in the Russian market starting from this fall until the end of 2017, an unnamed company representatives told Vedomosti earlier this week. This is nearly one fifth of all the financial means raised by the company …
Gett to invest $100 million in Russia this and next year Read More
French unicorn Blablacar is said to have raised €21.3 million euros from Baring Vostok, a leading Russian private equity firm. The news was reported this morning by Maddyness, an authoritative French tech blog. When contacted by East-West Digital News, Baring Vostok and Blablacar declined to comment on this information, but Maddyness told us that they had access to official …
Blablacar reported to have raised €21.3 million from Baring Vostok Read More
SBT Venture Capital, the venture arm of Russian state-controlled savings bank Sberbank, appears to be among the participants in Uber’s latest equity funding round. Led by Saudi Arabia’s Public Investment Fund, this $3.5 billion deal took place this spring, valuing the US startup at $62.5 billion. SBT’s participation was revealed by BNE Intellinews, an online …
Russia’s Sberbank participated in Uber’s latest equity round Read More
Uber is teaming up with Russia’s Interior Ministry to help find missing children. As part of the campaign, the portraits of missing children will be painted on the sides of some of the cars in Uber’s Moscow fleet. The campaign launched on Monday, April 18. Uber encourages Muscovites to photograph its cars that bear the …
Uber launches campaign to find missing children in Moscow Read More
On behalf of taxi drivers, the Federation of Russian Car Owners (FAR) has filed a complaint with Prime Minister Dmitry Medvedev over the low prices dictated by taxi service aggregators, the RBC news agency reported Tuesday. The complaint by FAR said that the Federal Anti-Monopoly Service (FAS) had refused to initiate legal action against Uber, …
Russian taxi drivers complain over Uber’s pressure on prices Read More
Uber has agreed to limit its service in Moscow to drivers with a transportation license, Bloomberg reported yesterday. The company said it will also share traffic data with city officials, as well as the number of drivers using the app each month. Moscow’s transportation department had previously planned to ask police and a judge to …
Uber to limit Moscow service to licensed cars and share data with city authorities Read More
International investment group LetterOne (L1) has just announced that it has made a “strategic investment”of $200 million in Uber. Mikhail Fridman, the chairman of the group, is the third Russian billionaire in a row to invest in the US company, following the moves of Ziyavudin Magomedov and Alisher Usmanov last year. “I’m excited by our strategic partnership with …
After Magomedov and Usmanov, Russian billionaire Mikhail Fridman invests in Uber Read More
USM, an investment holding controlled by Russian billionaire Alisher Usmanov, invested “several dozen million dollars” in Uber in the summer of last year. The investment was revealed yesterday by Russian business dailies RBC and Vedomosti, which cited unnamed sources in the holding. USM and Uber, however, declined to comment on these reports. Thus Usmanov has been …
Russian oligarchs Magomedov and Usmanov have stakes in Uber Read More
The online lodging service Airbnb has seen rapid growth in Russia as the country’s economic recession forces more Russians to look for ways to supplement their incomes, the Bloomberg news agency reported Tuesday. The Russian business of San Francisco-based Airbnb has doubled during the past year, propelling Moscow into the world’s top 10 cities with …
Earlier this month Sberbank, Russia’s national savings bank, and Uber announced that they signed a Memorandum of Understanding “to explore the co-development of financial technology with global potential.” For example, Uber could use Sberbank’s sophisticated mobile payment technologies to improve the ease with which new Uber users verify their account and pay securely. “Paying for your ride electronically …
Sberbank and Uber agree financial technology partnership Read More
This past Monday, September 7, a group of Moscow taxi drivers gathered together for a protest against the app-based, ride-hailing service Uber. Drivers say Uber’s lower fares are a threat to their livelihoods, and demand that the company be investigated and prosecuted for “unfair competitive practices” that violate Russian law. Moscow taxi drivers are also demanding …
UberX, the budget version of US-based taxi-hailing service Uber, has arrived in Moscow. Residents of the Russian capital can now travel in an UberX vehicle for just $0.15 per minute / per km, in addition to an initial $1.20 charge. This is significantly less than the $0.40 per minute charge + $5 initial charge to use …
