Technology

Yandex and Uber spin out self-driving venture with $150 million investment

Yandex and Uber spin out self-driving venture with $150 million investment

Yandex and Uber today announced they are spinning out their self-driving joint venture into a standalone company, with the Russian tech giant increasing its stake by investing an additional $150 million. The two former rivals merged their ride-hailing operations in Russia and parts of Eastern Europe back in 2017. Now that the Self Driving Group is a separate company, Yandex will have a 73% stake, Uber will have 19%, and the balance will be owned by Yandex managers and employees.

Click here to read more -->
×