U.S. social network Facebook and Russian Internet giant Yandex are in negotiations over a potential partnership deal, the Vedomosti newspaper reported Monday, citing multiple unidentified sources close to both companies.
The companies are discussing exchanging user data and possible joint promotions, Vedomosti reported. One of the newspaper’s sources, allegedly close to Facebook, said that negotiations are still in the early stages.
Facebook is allegedly interested in a number of Yandex services in the Russian market, such as their taxi and hotel booking applications. Facebook users could be able to pay for Yandex services directly through the social network, allowing both companies to share the revenue, Vedomosti reported.
Facebook has so far not responded to requests for comment. A spokesperson from Yandex said the company was always open to negotiations with other firms.
According to data from market research agency TNS, Facebook has a Russian audience of 12.6 million users. Yandex enjoys an audience some 1.6 times larger with 20.4 million users, Vedomosti reported.