Russia's Group buys YouDrive carsharing start-up

Russia's Group buys YouDrive carsharing start-up
By bne IntelliNews August 22, 2019

Russian internet major Group (MRG) will acquire YouDrive, one of the largest carsharing operators in Russia, the company said on August 22 without disclosing the amount of the deal. 

MRG together with Proxima Capital will get all services including YouDrive Business and YouDrive Pool, currently operating a fleet of 2,500 cars to be expanded to 10,000 within a year. The leader on the carsharing market is Yandex.Drive of internet major Yandex with 11,500 cars and DeliMobil with 12,500 cars. DeliMobil recently said it could IPO in 2020.

As reported by bne IntelliNews, will challenge Yandex in the transportation and food delivery segments with a recent partnership with Russia's largest bank Sberbank. The investment into YouDrive could be integrated into the joint venture, MRG said.

Carsharing participants in Moscow could triple to 30,000 by 2025, according to a PriceWaterHouseCoopers forecast cited by RBC business portal in September 2018. The total car sharing and taxi market in 2017-2025 will grow 2.5-fold to RUB1.6 trillion ($24bn), as estimated by Sberbank CIB.

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