Uber Competitor Gett Receives $300M Investment from Volkswagen
Summary
Gett (formerly known as GetTaxi), a global ride hailing provider, has received a $300m strategic investment from Volkswagen Group.Volkswagen Group has made the investment in order to increase the share of future sales revenue coming from new business models.The partnership is based on a joint growth strategy to expand on-demand mobility services in Europe and to become a world leading mobility provider by 2025, as said by Matthias Müller, Chairman of the Board of Management of Volkswagen Aktiengesellschaft.Today, Gett is one of the fastest growing ride hailing providers in the mobility-on-demand area.The company, which has development facilities in Israel, bases its business model exclusively on licensed drivers.
Funding
Amount
$300.0M
Total raised
Date
May 25, 2016
Announcement date
Investors
Volkswagen Financial Services, Gett
Lead investors
Company
http://www.uber.com
Funded company
Classifications
industries
Telecommunications
applications
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