DraftKings and FanDuel No Longer Merging | Crunch Report | Summary and Q&A

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July 13, 2017
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TechCrunch
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DraftKings and FanDuel No Longer Merging | Crunch Report

TL;DR

Uber is merging its ride-hailing business in Russia with Yandex Taxi, creating a separate joint venture valued at $3.72 billion.

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Questions & Answers

Q: What is the value of the joint venture between Uber and Yandex Taxi?

The joint venture between Uber and Yandex Taxi is valued at $3.72 billion.

Q: Which countries will be covered by the merger?

The merger will cover operations in Russia, Pakistan, Azerbaijan, Armenia, Belarus, and Georgia.

Q: When is the deal expected to close?

The deal is expected to close in the fourth quarter of this year.

Q: Has the merger been approved by both companies' boards?

Yes, the merger has been approved by the boards of both Uber and Yandex Taxi.

Summary & Key Takeaways

  • Uber announced its merger with Yandex Taxi to combine their ride-hailing businesses in Russia and neighboring markets.

  • The joint venture, valued at $3.72 billion, will cover operations in Russia, Pakistan, Azerbaijan, Armenia, Belarus, and Georgia.

  • The deal is expected to close in Q4 of this year and has been approved by both companies' boards.

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