- Russia internet group Yandex (NASDAQ:YNDX) buys startup fuel delivery service Toplivo v Bak for undisclosed terms.
- The purchase happened through the ride-share unit Yandex.Drive. Drive will use the acquisition to improve fueling for its growing fleet.
- Toplivo delivers fuel to parked cars after receiving an order through a smartphone app. The owner doesn’t have to be with the car.
- Toplivo will stop servicing private and corporate clients after the acquisition is complete.
- Competition: Startup Pump will be the only local competition.
- Yandex shares are down 6.1% to $33.24.