The Latest Insights from International Online Marketing
20 August 2015.
The Russian search giant Yandex has seen its taxi app revenues triple in the last year.
Yandex Taxi allows users to book taxis online or through an app, with the location of the taxi then being tracked online so that users can see its progress.
Its fleet comprises of over 15,000 taxis operating in the Moscow area, making it the dominant firm in the Russian taxi app market.
Its rivals Gett and Uber lag far behind in terms of numbers of both taxis and users.
Yandex is hoping that its taxi app revenues will reduce its reliance on its online advertising revenues, which currently make up 90% of the company’s income.
Its investment in Yandex Taxi app seems to be paying off, with Yandex saying that the majority of its non-advertising revenue is coming from the app and that the amount of money it generated tripled in the last year alone.
Yandex is most well-known for its search engine, which is the most popular in Russia with a market share of around 60%.