GETT ready for PH Cars.
The on-demand transportation service continues to heat up, and today the spotlight is shining on a New York startup whose business is based primarily in Europe. Gett, a cab-hailing startup with operations across some 60 cities, is getting a $300 million investment from German car giant Volkswagen. VW plans to use the investment to spearhead its own move into ride-sharing, on-demand transportation and autonomous cars.
We still don’t have a valuation for Gett in the wake of the deal but we are trying to find out. In November, Haaretz, a publication out of Israel — Gett has operations and an R&D center in the country — reported that Gett was looking for debt funding at a $2 billion valuation, having previously been valued at $575 million. We have confirmed with Gett’s co-founder and CEO Shahar Waiser that VW is the sole investor in this round.
Gett has now raised $520 million in funding — other investors include Access Industries and Kreos Capital — and it says it is profitable in several cities, with annual revenues of $500 million.
VW is Europe’s largest car maker, with other brands under its ownership including Porsche, Audi, Lamborghini and many more. And while $300 million is no small sum of money and is a huge win for Gett, $300 million is a relatively small sum for VW, which reported revenues of $238 billion (€213 billion) in 2015.
But VW also posted a loss of $1.8 billion (€-1.582 billion) in that same period, in the wake of an emissions cheating scandal that affected 11 million vehicles, which came just on the heels of a previous scandal involving the company suppressing news about a security flaw in some of its vehicles. In that regard, VW investing in the next generation of transportation is one way for VW to point to the future and put some of that bad news behind it.
“Alongside our pioneering role in the automotive business, we aim to become one of the world’s leading mobility providers by 2025,” says Matthias Müller, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, in a statement. “Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs.”
This is VW’s first investment into one of the fleet of startups that are building up the on-demand transportation market, but it’s not the first to work with them. Perhaps most notably, GM earlier this year put $500 million into another Uber competitor, Lyft, to build up its own business in this area, spearheaded by its launch of Maven and subsequent purchase of Cruise, the self-driving car startup. Further back, some car makers have tried to acquire their way into the market, such as when Daimler acquired RideScout in 2014.
Gett CEO Waiser, who co-founded the company with Roi More, tells us there are many reasons why the partnership makes sense: “The first is that we share the same footprint. The world’s largest car producer are the strongest in Europe, with a 25% market share across their brands. And Gett is strong in Europe too, available in 60 cities and this footprint is a good match to start.”
He adds that the companies also have the same profile in terms of users across both corporate and consumer users. Gett has deals with some 4,000 business customers and says some 30 percent of its revenues come from that market. “Now VW has the opportunity to offer mobility on demand not just for consumers but for corporate users,” he added.
The third is in the technology Gett has been building around big data and predictive algorithms, heat maps for demand and more. “When you look at what we are doing today you can recognise that this tech will be necessary when you go with autonomous cars,” he added.
Earlier this year, Gett launched a £6 flat-rate courier service in London to expand beyond taxi services, and it also consolidated some of its position by acquiring Radio Taxis, a rival firm.
http://techcrunch.com/2016/05/24/vw-invests-300m-in-uber-rival-gett-in-new-ride-sharing-partnership/
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NEW YORK (AP) -- Cabbies will have to pull over after driving 12 hours in any 24-hour period under rules proposed by New York City's Taxi and Limousine Commission.
Mayor Bill de Blasio (dih BLAH'-zee-oh) announced the proposed rules Tuesday and said they will keep sleep-deprived taxi drivers off the streets.
Under the new regulations, taxi drivers will not be allowed to pick up passengers for more than 12 hours in any 24-hour period. There will be a 72-hour limit in any seven-day period.
Drivers will have to take a break of at least eight hours before they can reset the 12-hour work clock and begin picking up fares again.
De Blasio calls the proposed rules "a practical and prudent approach."
The taxi commission will hold a hearing on the proposals on June 23.
https://uk.finance.yahoo.com/news/nyc-proposes-rules-put-brakes-sleepy-taxi-drivers-181614304.html
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GLASGOW
A MAN was killed by a bus seconds after he climbed out the window of a taxi as it drove along the M8.
Lyle Rushbury, 23, was travelling in the back of a black Peugeot E7 when an argument broke out over payment.
The Record understands the rear doors were locked as is standard practice when vehicles operated by Glasgow Taxis are in motion.
But to the driver's horror Lyle climbed out the window and landed on the carriageway.
Seconds later he was struck by a bus and pronounced dead at the scene.
The tragedy happened near Junction 15 at 12.30am this morning.
Lyle is believed to have flagged down the taxi in Glasgow city centre. But while driving along the M8 it is understood he became embroiled in a row with the driver over payment.
http://www.dailyrecord.co.uk/news/scottish-news/tributes-pour-man-who-hit-8041439#ut3EBGeEO3h9ZLZ8.99
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Car-sharing firm Uber is a “reliable” and “safe” form of transportation, the head of the company has said following reports that the Minister for Transport was advised not to allow the company to operate services using ordinary drivers in Ireland.
Kieran Harte, general manager of Uber for Ireland and Northern Ireland, said he was looking forward to continuing an open line of communication with Shane Ross about the affordability, safety and regulation of the Uber car-sharing service which would use ordinary drivers rather than taxi divers.
Uber , a substitute for taxi and limousine services, runs in cities all over the world.
The company, set up in San Francisco in 2009, signs up drivers to an online platform which allows them to accept bookings via an app to carry passengers. Drivers use their own cars, without being licensed taxi or limo drivers.
Briefing documents prepared by civil servants for the new minister for transport show that there is strong official resistance to facilitating the arrival of most Uber services.
UberPop, the service which allows ordinary drivers to carry passengers for money, has caused controversy throughout Europe, leading to protests from taxi drivers and has been banned in some countries.
At present, Irish law requires that anyone carrying passengers for money must have a taxi licence, and there is limited Uber service in Dublin run by existing holders of taxi licences.
http://www.irishtimes.com/news/consumer/uber-car-sharing-is-safe-says-irish-head-of-firm-1.2657610
Taxi app Hailo has backed the Department of Transport's opposition to ride-sharing services using unlicensed drivers, like those offered by companies such as Uber in other countries.
Hailo's general manager for Ireland, Tim Arnold, said the current regulation was fit for purpose and Hailo exemplifies a company with the ability to innovate within the law.
"Ride-sharing, and the substantial lowering of standards that it would entail, amounts to a race to the bottom on quality and price that would jeopardise passenger safety," he said.
Last week media reports said that the new Minister for Transport, Shane Ross, had been strongly advised by his officials to not to allow car-sharing firm Uber to operate services using ordinary drivers rather than taxi drivers in Ireland.
Uber does operate in Ireland, but in order to comply with the law, its drivers must have a valid taxi licence.
The company has been seeking a relaxation of the rules to allow it to run a service similar to the one it does in others countries, where its drivers do not need to be licensed taxi drivers.
Hailo's Tim Arnold said Hailo has shown that it is possible to innovate and grow demand within existing taxi regulations.
His comments came as the company announced it had carried over 20 million passengers in Ireland since its launch here four years ago.
In 2015, the company carried out five million journeys, carrying 45,000 passengers a day.
http://www.rte.ie/news/business/2016/0524/790651-hailo-and-uber/
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MANCHESTER
Organisers of the Parklife 2016 music festival in Heaton Park next month have signed a deal to give new Uber uses a free ride.
Any new users signing up to the Uber app can get a first free ride up to the value of £15 by using the code 'PARKLIFE15'.
Uber has made huge stride in the Manchester market since launching in May 2014 - and the new deal is thought to be a move to combat unlicensed taxi drivers and private firms charging fares that are higher than normal due to the demand of the 65,000 people expected at the festival each day.
The festival takes place in Heaton Park on June 11 and 12, with headliners including the Chemical Brothers, Major Lazer and Bastille.
Parklife have also offered a free spot on the guest list to Manchester United legend Eric Cantona as a present for his 50th birthday. The Frenchman, nicknamed The King by Manchester United fans, played 143 games for the Reds between 1992 and 1997.
Parklife tweeted a picture of Cantona sat on the throne to wish him a happy birthday and offered a free ticket if he dropped them a line.
http://www.manchestereveningnews.co.uk/whats-on/music-nightlife-news/parklife-2016-uber-deal-cantona-11379305
http://goo.gl/KWEIPb
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WARRINGTON
TWO brothers who operated as unlicensed taxi drivers have received driving bans.
Paul and Andrew Stafford have both been disqualified from driving for a period of six months after they were found to be driving taxis without licenses.
The pair, from Callands and Old Hall, had been operating vehicles in the Cheshire West and Chester area.
Appearing at court on Monday, Gresford Close resident Paul Stafford, 41, was fined £153 a received eight penalty points after admitting two offences and was also ordered to pay £125 costs and a victim surcharge of £20.
Andrew Stafford, 35, admitted three offences and was fined £253 and given eight penalty points.
The Livingstone Close resident was also ordered to pay £125 costs and a £29 victim surcharge.
A licensed operator was convicted and sentenced at an earlier hearing in connection with the duo’s offences.
Maria Byrne, director of place operations for Cheshire West and Chester Council, said: “This case sends out a clear message that the authority will not tolerate unlicensed vehicles or drivers putting the travelling public at risk.
“We had no option other than to instigate prosecution proceedings.
“Licensed vehicles have plates attached to prove they are licensed which include an expiry date and vehicle licence number – drivers also have to wear a photo ID badge provided by the council.”
http://www.warringtonguardian.co.uk/news/14513104.Brothers_banned_from_driving_for_operating_as_unlicensed_taxi_drivers/
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