Business Tech

Uber and Yandex Spin Out Russian self-driving car subsidiary into its own entity

Uber and Yandex will be spinning off their self-driving car subsidiary into its own entity – MLU BV.

MLU BV will have $150 million in new capital from Yandex, including $100 million in equity and $50 million as a convertible loan.

In connection with the deal, Yandex will hold 61.7% of MLU and Uber will own 33.5%. Bloomberg reported in June that Yandex had been looking to buy all of Uber’s initial 38% stake as an alternative to taking the taxi business public. Uber merged its Russian operations with Moscow-based Yandex in 2017.


UBER Now Don’t Have a COO, CTO or CPO. When will the Executives Stop Leaving?

Uber have no COO, CTO or CPO as their executive team keep leaving the company.

These changes happen quite frequently at very large companies, but it seems strange they all these positions are now empty and executives keep leaving.

I think Uber has one of the best CEO’s in the world right now and the right person to lead the company in difficult times.

But WHY??? Why so many leavers? Are they not backing the new vision of the company? Do they think there are too many large issues within the company?

Time will tell I guess.