Vezet Group

Vezet Group emerged as a significant force in Russia's ride-hailing market before its eventual acquisition. Established in May 2017, the company was the product of a merger between two major regional taxi operators, Saturn and RuTaxi, which were based in Krasnodar and Ufa, respectively. This strategic consolidation created a powerful player with deep roots in Russia's regional cities. The company operated a hybrid business model, accepting taxi orders through both a mobile application and traditional call centers, a method that proved highly effective in its target markets. In fact, a substantial portion of its business, around three-quarters of orders, initially came from phone calls, with an average processing time of just 20 seconds.

Operating under various brands including Vezet, Taxi Saturn, Fasten, and Red Taxi, the group provided ride-sharing and cargo delivery services in over 100 cities across Russia, as well as in Kazakhstan and the Czech Republic. This extensive network allowed Vezet to process over one million orders per day. The company's business model focused on providing an accessible and inexpensive taxi service for passengers while offering partner carriers and drivers favorable terms to increase their income. Its success attracted significant investors, including UFG Private Equity, Almaz Capital, and Burch Creative Capital, and it also secured a convertible loan from Mail.ru Group in 2018.

The company's trajectory culminated in its acquisition by MLU B.V., the joint venture of Yandex and Uber. An initial deal was announced in July 2019, which would have given Vezet's shareholders a 3.6% stake in MLU and up to $71.5 million in cash. However, this agreement faced challenges, including a potential veto from rival Mail.ru Group. A revised and narrower deal was ultimately completed in February 2021, under which Yandex.Taxi acquired Vezet's call centers and cargo business for a cash consideration of up to $178 million. Following the acquisition, Vezet's services were integrated into the Yandex Go application, and its affiliated drivers were given the opportunity to migrate to Yandex's platform.

Keywords: ride-hailing, taxi aggregator, Russia, on-demand taxi, mobile booking, call center taxi, cargo delivery, fleet management, Fasten Russia, RuTaxi, Saturn Taxi, Yandex.Taxi acquisition, MLU B.V., regional transportation, mobility services, UFG Private Equity, Almaz Capital, Mail.ru Group investment, Russian tech, transportation network