Israeli Taxi Startup Gett Raises $120m as It Eyes IPO

Ride-hailing startup expects to list in London on Tel Aviv

Send in e-mailSend in e-mail
A black Gett taxi-cab in London, June 2017.
A black Gett taxi-cab in London, June 2017.Credit: Eyal Toueg

Gett, the Israeli ride-hailing startup that focuses primarily on the business market, signaled on Tuesday that it was following Uber and Lyft and gearing up for an initial public offering after it raised $120 million from private investors.

Gett said it raised the money in a mix of equity and debt capital in a round that valued the company at $1.5 billion. The investors were all existing shareholders, including the German carmaker VW, Access and its founder Len Blavatnik, Kreos and MCI.

Speaking to the Financial Times , CEO Dave Waiser said Gett’s IPO would be either in London or Tel Aviv.

Waiser said he would be looking to see how rival taxi firm Lyft performs after it went public in March at a $22.2 billion valuation. “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” he said.

Unlike other app-based ride-hailing firms, Gett’s technology links business passengers with traditional operators such as New York yellow taxi firms and London black cabs.

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.

Subscribe today and save 40%

SUBSCRIBE
Already signed up? LOG IN

ICYMI

Trump and Netanyahu at the White House in Washington, in 2020.

Three Years Later, Israelis Find Out What Trump Really Thought of Netanyahu

German soldier.

The Rival Jewish Spies Who Almost Changed the Course of WWII

Rio. Not all Jewish men wear black hats.

What Does a Jew Look Like? The Brits Don't Seem to Know

Galon. “I’m coming to accomplish a specific mission: to increase Meretz’s strength and ensure that the party will not tread water around the electoral threshold. If Meretz will be large enough, it will be the basis for a Jewish-Arab partnership.” Daniel Tchetchik

'I Have No Illusions About Ending the Occupation, but the Government Needs the Left'

Soldiers using warfare devices made by the Israeli defense electronics company Elbit Systems.

Russia-Ukraine War Catapults Israeli Arms Industry to Global Stage

Flame and smoke rise during an Israeli air strike, amid Israel-Gaza fighting, in Gaza City August 6, 2022.

Israel Should End Gaza Operation Now, if It Can