Shahar Waiser says the taxi ordering app will start making profits this year.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
GetTaxi Ltd. founder and CEO Shahar Shimrin Waiser had disclosed financial details about the taxi order app. He says the company’s revenue is growing 400% annually and it will move to profit this year with revenue of hundreds of millions of dollars. He added that GetTaxi is considering an IPO.
Waiser published these figures sand thoughts on his Facebook page after its rival Uber yesterday published that it raised $1.2 billion at a company value of $18.2 billion.
Waiser said that Uber’s fund raising is “excellent news for the industry generally and for GetTaxi in particular. This is the first time people begin to understand how big this sector is. GetTaxi worldwide generates hundreds of millions of dollars in sales and $100 million profit.”
He added, “There is no other example in history of a company wth over $100 million in sales growing 400% per year. Both Uber and GetTaxi are doing it. GetTaxi expects sales of $500 million next year.”
Waiser said that GetTaxi is profitable in 22 of the 24 cities in which it operates.
Published by Globes [online], Israel business news – www.globes-online.com