WoE: Russian cutthroat online taxi business, with development officer of Vezet Ilya O’Guy
Russia’s taxi business has become ultra-competitive. Already running for several years, the incumbent Yandex.Taxi subsidies its drivers and won’t go into profit until maybe this year. It has already forced Uber into a merger and may IPO in the next two years. In this shark tank the gypsy cabs have all but disappeared as it is cheaper to take an official cab, but there is room in the market for several players.
Vezet is Russia’s second largest taxi aggregator and grew up in regions on the wrong side of the Ural mountains. It is battling it out with the incumbent but has a solid toehold in Russia’s biggest and not so big regional cities.
Ben Aris, editor-in-chief, bne IntelliNews
Ilya O’Guy, development office of Vezet
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