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.

Transcript

draftkings and FanDuel are no longer merging uber and Yandex taxi are merging in Russia Amazon could be working on a premium version of echo and more it's Thursday July 13th and NIT is crunchy what is up TechCrunch land you ready for the news because I got it uber combined with a company once before in China and it's looking like it worked out and ... Read More

Key Insights

• 👨‍💼 Uber is consolidating its ride-hailing business in Russia by merging with Yandex Taxi.
• 📔 The joint venture is valued at $3.72 billion and covers operations in multiple countries.
• 😚 The deal has been approved by both companies' boards and is expected to close later this year.

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.