A GetTaxi vehicle in Tel Aviv. (Courtesy) When Israeli startups Gett and Juno teamed up, their deal highlighted just how much action the ridesharing space has seen this year and how stiff the competition for the streets of New York is and will continue to be.
Gett and Juno, who said last week they would join forces to enable them to challenge larger rivals Uber and Lyft, did not disclose the terms of the deal but the news site TechCrunch reported that Gett had paid $200 million for Juno, which launched in New York last year.
“It’s pretty amazing to get a $200 million valuation for a two-year old company,” said Koby Simana, the CEO of IVC Research Center in Tel Aviv which tracks the industry. “The deal shows just how much attention the potential of the automotive industry is getting these days.”
Gett, formerly called GetTaxi, defines itself as an on-demand mobility company, and offers ride-hailing services in more than 80 cities around the world, including London, Moscow and New York. The taxi app Juno is only active in New York City and was founded in 2016 by CEO Talmon Marco, creator of the communication app Viber, which was sold to […]