The American travel application Lyft acquires the taxi operations of Gett in London, for an amount estimated at about 50 million dollars. This, in fact, ends the company’s journey outside of Israel. Get operated after its establishment by the entrepreneur Shahar Weiser (now Dave Weiser) in Russia, Great Britain and Israel – but after Russia’s invasion of Ukraine, its Russian operations were closed and the intentions to issue the company were shelved.
Last August, Get was sold to a group of investors including Leumi Partners, Meitav, Mizrahi Tefahot, Fenix and Clearmark Capital in exchange for 188 million dollars, but it seems that the purchasing group sees the company primarily as an Israeli asset. It should be noted that the current transaction was led by Gett’s chairman, Ran Gouraon, as part of a strategic move to focus the activity in Israel and accelerate the realization of the value from the international activity.
Lyft, which is known as Uber’s American competitor in the ride-hailing application market, is currently expanding its operations overseas. This is, in part, through the acquisition of the Freenow app, also a British travel app, which was bought last year for $234 million, according to PitchBook.
At this stage, Get subscribers will be able to continue using the original app throughout the UK, but Lyft users are expected to join them later from the US app. In 2019, Get signed a partnership agreement with Lyft so that app subscribers can book rides with Lyft in the US and Canada, but this was canceled a few years ago.
No response was given from Magt.
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