19/11/2016
In the dynamic world of urban mobility, few names resonate with the journey of innovation and strategic evolution quite like Gett. Once known as GetTaxi, this pioneering company has carved out a significant niche, transforming from a simple ride-hailing application into a comprehensive B2B Ground Transportation Management (GTM) platform and a vital marketplace. Headquartered in London, Gett's story is one of ambitious expansion, pivotal investments, and a recent, headline-grabbing acquisition that signals a new chapter for the firm.
- The Genesis of a Groundbreaking Idea
- Global Footprint and Strategic Manoeuvres
- Gett's Distinctive Business Model: Beyond Ride-Hailing
- The Pango Acquisition: A New Chapter Unfolds
- Impact on the UK Ground Transportation Landscape
- Key Milestones in Gett's Journey
- Frequently Asked Questions (FAQs)
- Conclusion
The Genesis of a Groundbreaking Idea
The origins of Gett trace back to a moment of everyday frustration that many can relate to. In the summer of 2009, Israeli entrepreneur Shahar Waiser found himself waiting an exasperating thirty minutes for a taxi at Palo Alto Airport in California. This common inconvenience sparked a revolutionary idea: what if technology could eliminate such waits, making taxi services efficient, transparent, and instantly accessible? Waiser, alongside co-founder Roi More, envisioned a solution that leveraged the burgeoning smartphone technology to connect passengers with drivers seamlessly. Their ambition was not merely to create another taxi app but to build a robust platform that addressed the core challenges of urban mobility.
The initial beta version of GetTaxi, operating in Hebrew, first saw the light of day in Tel Aviv in the summer of 2011. This crucial testing phase allowed the founders to refine their technology and user experience. Buoyed by early success, GetTaxi swiftly set its sights on one of the world's most iconic and challenging taxi markets: London. In August 2011, the service officially launched in the UK capital, marking its first significant international expansion and a bold statement of intent.
Global Footprint and Strategic Manoeuvres
Following its successful entry into the UK market, Gett embarked on an ambitious global expansion. March 2012 saw the company branch out into Moscow, a vast and complex market, demonstrating its ability to adapt its model to diverse regulatory and cultural landscapes. Concurrently, Gett established its first United States offices in New York City, further solidifying its presence in key international hubs. This rapid expansion underscored Gett's commitment to becoming a global player in the ground transportation sector.
A pivotal moment in Gett's trajectory occurred in May 2016 when the Volkswagen Group, one of the world's leading automotive manufacturers, made a substantial investment of $300 million. This significant capital injection was not just a financial boost; it was a powerful validation from a traditional industry giant, signalling a recognition of Gett's innovative business model and its potential to shape the future of mobility. The investment provided Gett with considerable resources for further technological development, market expansion, and strategic acquisitions.
In 2017, Gett leveraged its newfound capital to acquire Juno, a ride-hailing company with a strong presence primarily in New York City. This acquisition was a strategic move aimed at consolidating Gett's position in the highly competitive NYC market. However, the landscape of ride-hailing is constantly evolving, and in November 2019, Gett made another strategic pivot, selling Juno to Lyft. This deal was more than just a sale; it forged a crucial partnership between Gett and Lyft, allowing Gett to focus more on its B2B offerings and its unique marketplace model, while still providing broad consumer reach through collaboration.
Gett's commitment to its marketplace model saw further significant partnerships unfold. In 2020, it teamed up with Ola, a major player in the Indian ride-hailing market, extending its reach and service capabilities across various geographies. This was followed by a partnership with Curb Mobility in 2021, further strengthening its network and reinforcing its position as a comprehensive ground transportation solution provider. These partnerships highlight Gett's agile strategy of expanding its ecosystem through collaboration rather than solely through direct ownership.
Gett's Distinctive Business Model: Beyond Ride-Hailing
What truly sets Gett apart from many of its competitors is its dual-pronged business approach. While widely recognised for its B2C (Business-to-Consumer) ride-hailing app, Gett has increasingly focused on its robust B2B (Business-to-Business) Ground Transportation Management (GTM) platform. This GTM platform and marketplace is designed to streamline corporate travel, offering businesses a unified solution for managing their employees' ground transportation needs. It provides access to a vast network of taxi and ride-hailing services, integrated billing, expense management, and reporting tools, making business travel more efficient and cost-effective. This B2B focus has allowed Gett to build deep relationships with corporate clients, providing a stable and recurring revenue stream that complements its consumer-facing operations.
The Pango Acquisition: A New Chapter Unfolds
The latest and perhaps most significant development in Gett's journey came in May 2024, when it was widely reported that Pango, a prominent Israeli parking and mobility solutions provider, would acquire Gett. The reported price tag for this acquisition is approximately $175 million. This deal encompasses Gett's operations in Israel and internationally, marking a transformative moment for both companies. The acquisition is currently subject to the approval of the Competition Commissioner, a standard regulatory step for such large-scale transactions.
For Gett, this acquisition by Pango represents a new chapter, potentially integrating its services into a broader mobility ecosystem. Pango's expertise in parking and other urban mobility solutions could create powerful synergies with Gett's ride-hailing and B2B GTM platforms, offering a more comprehensive suite of services to both individual consumers and corporate clients. This move also highlights a broader trend of consolidation within the mobility sector, as companies seek to expand their offerings and achieve greater market share.
Impact on the UK Ground Transportation Landscape
Gett’s presence in the UK has profoundly influenced the ground transportation landscape. From its early days, it offered a compelling alternative to traditional street hails, bringing transparency through upfront pricing and driver tracking, alongside the convenience of cashless payments. For black cabs and private hire vehicles alike, Gett provided a digital platform to reach a broader customer base, helping to modernise operations for many drivers. Its focus on corporate accounts also introduced a new standard for business travel, where efficiency and detailed reporting became paramount. Gett helped to bridge the gap between legacy taxi services and the burgeoning ride-hailing apps, fostering competition and innovation across the sector, ultimately benefiting the consumer with more choices and better service.
Key Milestones in Gett's Journey
| Year | Event | Significance |
|---|---|---|
| 2009 | Idea conceived by Shahar Waiser | Genesis of GetTaxi, addressing taxi inefficiencies. |
| 2011 (Summer) | Beta launched in Tel Aviv | First operational version, testing core concept. |
| 2011 (August) | Launched in London | Entry into a major global market, establishing international presence. |
| 2012 (March) | Expanded to Moscow & NYC | Significant global expansion into key urban centres. |
| 2016 (May) | Volkswagen Group invested $300M | Major corporate validation and substantial capital injection for growth. |
| 2017 | Acquired Juno | Strategic move for consolidating market share in New York City. |
| 2019 (November) | Sold Juno to Lyft, formed partnership | Strategic pivot towards a partnership-driven marketplace model. |
| 2020 | Partnered with Ola | Expanded marketplace reach, diversifying service offerings geographically. |
| 2021 | Partnered with Curb Mobility | Further strengthened B2B offerings and integrated network. |
| 2024 (May) | Pango announced acquisition of Gett | New ownership, marking a significant industry consolidation and new strategic direction. |
Frequently Asked Questions (FAQs)
Who founded GetTaxi/Gett?
GetTaxi, later known as Gett, was founded by Israeli entrepreneurs Shahar Waiser and Roi More. The idea originated from Shahar Waiser's personal experience waiting for a taxi in Palo Alto, California, in 2009.
What is Gett?
Gett is an Israeli B2B Ground Transportation Management (GTM) platform and marketplace, as well as a B2C ride-hailing app. It connects passengers with taxi and ride-hailing services, and provides comprehensive solutions for corporate ground transportation.
Where is Gett headquartered?
Gett is headquartered in London, United Kingdom. While its origins are Israeli, its operational base for its global reach is in the UK.
What is Gett's B2B platform?
Gett's B2B (Business-to-Business) platform offers Ground Transportation Management (GTM) solutions for companies. This includes tools for booking rides for employees, managing expenses, consolidated billing, and providing access to a wide network of transportation providers for corporate travel needs.
Why did Volkswagen invest in Gett?
The Volkswagen Group invested $300 million in Gett in 2016 to gain a foothold in the rapidly growing ride-hailing and mobility services market. It was a strategic move by the traditional automotive giant to explore new business models beyond car manufacturing and to validate Gett's innovative platform.
Why did Gett sell Juno?
Gett acquired Juno in 2017 to strengthen its position in the New York City market. However, in November 2019, Gett sold Juno to Lyft as part of an agreement that saw Gett form a strategic partnership with Lyft. This move allowed Gett to pivot its strategy towards a less asset-heavy, more partnership-driven marketplace model, focusing on its core B2B offerings.
Who is acquiring Gett in 2024?
In May 2024, it was reported that Pango, an Israeli parking and mobility solutions provider, will purchase the "Gett" transportation service application. The deal is subject to regulatory approval.
What is the significance of the Pango acquisition?
The acquisition of Gett by Pango signifies a new phase for Gett, potentially integrating its ride-hailing and GTM services into Pango's broader mobility ecosystem. It also reflects a trend of consolidation within the mobility sector, aiming to create more comprehensive and integrated services for users and businesses alike.
Conclusion
From a simple idea born out of a taxi wait, Gett has navigated the complex and competitive landscape of urban mobility with remarkable adaptability. Founded by Shahar Waiser and Roi More, its journey from a Tel Aviv beta to a global presence with a London headquarters, marked by significant investments from the Volkswagen Group and strategic partnerships, underscores its resilience. The recent acquisition by Pango marks a significant new chapter, promising further integration and evolution within the broader mobility sector. Gett's legacy is not just in providing rides, but in pioneering a sophisticated Ground Transportation Management platform that caters to both individual consumers and the intricate needs of corporate travel, solidifying its place as a key innovator in the UK and international transport industry.
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