Connect with us

Hi, what are you looking for?

Jewish Business News

VC, Investments

Taxi hailing app co GetTaxi raises $150 million


The company will expand services to European cities beyond its existing operations in London, Moscow and St. Petersburg.

GetTaxi

Please help us out :
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 office@jewishbusinessnews.com.
Thank you.

Taxi hailing app company GetTaxi has raised $150 million in a huge financing round. The company has yet to name all the investors but they include Swedish fund manager Vostok Nafta Investment. The new financing will allow the company to launch business services in New York and expand services in London. The company will also expand business services to other European cities beyond its existing operations in London, Moscow and St. Petersburg. This brings the total GetTaxi has raised to more than $207 million, including an investment from tycoon Len Blavatnik.

GetTaxi’s financing round comes exactly two months after the massive $1.2 billion raised by its rival Uber at a company value of $18.2 billion.

GetTaxi founder and CEO Shahar Waiser has spoken today about the profitability of his company. He said, “While most other companies in our space are losing money, GetTaxi is already profitable in 22 of 24 cities it operates and will become profitable at the group level in Q1 2015.”

Most of the 24 cities in which GetTaxi operates are in Israel.

The company’s business model has allowed it to generate higher revenue than most of its rivals such as Lyft (US), Hailo (UK), and MyTaxi (Germany).

 

Published by Globes [online], Israel business news – www.globes-online.com

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.