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Globes: Israeli company Gett buys London black cab company

In London’s “taxi wars,” Gett is lined up behind the licensed black cabs while Uber is championing unlicensed minicabs.

Source: Globes Israel 

GetTaxi

Gett is an Israeli-based startup that developed a gps based application connecting between customers and taxi drivers using the application’s proprietary GPS system and enables users to order a cab either with their smartphone or through the company’s website. The application is compatible with iPhone, BlackBerry and Android platforms and it currently operates in more than 50 cities, including New York City, London, Moscow and 13 cities in Israel.

Gett (formerly named GetTaxi) was founded by Israeli entrepreneurs Shahar Waiser and Roi More. Waiser came up with the idea in the summer of 2009 during a thirty-minute wait for a taxi to the airport in Palo Alto. GetTaxi was launched two years later. The service’s beta version started operating in Tel Aviv during 2011 summer and on July 2011 GetTaxi was launched in London.By June 2012, the company had raised $30 million, including $9 million more from British billionaire industrialist Len Blavatnik’s Access Industries Fund, to facilitate GetTaxi’s entry into New York as well as other U.S. markets. In August 2014, the company raised a $25 million investment from Vostok Nafta Investments.

Now, Gett has acquired British black cab company Radio Taxis. Financial details of the acquisition were not disclosed but Gett Western Europe managing director Remo Gerber said that the acquisition was made for “several million pounds.”

Following the acquisition, Gett will have a fleet of 11,500 London licensed cabs on its books, nearly 50% of the black cabs in the UK capital.

In London’s “taxi wars” Gett is now firmly lined up behind the licensed black cabs while Uber is championing unlicensed minicabs. For this reason, the buyout was welcomed by London’s Licensed Taxi Drivers Association.

Gerber said, “We are delighted to bring such a great business as Radio Taxis into the Gett family. Our aspiration is to provide our technology to their corporate customers.”

Radio Taxis’ parent company Mountview House Group, said that the all cash deal is subject to its shareholders approval but that its board unanimously supports the move.

Gett also operates in 25 of the UK’s major provincial cities including Birmingham, Manchester, Liverpool, Leeds, Glasgow and Edinburgh as well as the US and Russia, and throughout its home base in Israel.