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Yandex. Car-sharing

Company


Owners:
Yandex - 100%

Content

Financial results
2020 year
Revenue: 0.068 millions Thousand. rub
Net Profit: 7.104 millions Thousand. rub

Owners

History

2020

Revenue - 68 million rubles, and loss - 710.4 million rubles

The revenue of Yandex.Carshering amounted to 68 million rubles, and the loss - 710.4 million rubles. This company operates under the Yandex.Drive brand, according to information on the service website. But the legal entity itself was registered only in April 2020. At the same time, in 2019, the revenue of Yandex.Drive LLC, which was previously considered the main legal entity for the service, amounted to 7.4 billion rubles, and the loss was 2.4 billion rubles. (data for 2020 are not given for this company). The representative of Yandex insists that these indicators do not reflect the results of their car sharing. Earlier, the company reported that in 2020 the revenue of this area amounted to 8.5 billion rubles, which is 13% more than in 2019. The size of the loss "Yandex" did not disclose[1].

Creation of the company

On April 15, 2020, it became known about the creation of Yandex.Carsharing, in which Yandex allocated its business to provide short-term car rental services. According to Interfax, citing data from the Unified State Register of Legal Entities, a new subsidiary was registered on April 3.

According to SPARK-Interfax, the 100 percent owner of Yandex.Carshering is the parent structure of the Internet company Yandex N.V. Anton Ryazanov, who also heads another "daughter" of Yandex, Yandex.Drive LLC, has been appointed CEO of the new company.

Yandex transferred car sharing to a separate business

The press service of Yandex.Drive confirmed to the agency the allocation of car sharing business as a separate legal entity without specifying the details of the reorganization. The company did not disclose the further fate of Yandex.Drive LLC.

The Yandex.Drive service  in the Yandex financial statements belongs to the segment of "experimental directions." By mid-April 2020, there are about 21 thousand cars in the car sharing service fleet.

Yandex.Drive is not the first Yandex service to be reorganized. Earlier, Yandex.Mediaservices, Yandex.Market, Yandex.Vertical and Yandex.Taxi were allocated to individual companies.

On April 13, 2020, Yandex.Drive and other car sharing services in Moscow suspended work, following the decree of the metropolitan mayor Sergei Sobyanin. According to the mayor, it is very difficult to observe the disinfection regime in carsharing. The ban on the operation of services is valid until April 19, 2020.

Yandex.Drive promised to start bonuses for using car sharing service in Moscow when the provision of services resumes. During the downtime of the service, Yandex.Drive cars will be in the parking lots of Moscow, the company will continue to serve them.[2]

Notes