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Gett raises $80M led by VW at a $1.4B valuation, says it will be profitable by Q1 of next year

Gett raises $80M led by VW at a $1.4B valuation, says it will be profitable by Q1 of next year

6 years ago
Anonymous $qrGo_Xv_Cm

https://techcrunch.com/2018/06/07/gett-go/

While Uber is growing its business with a net loss on its balance sheet, a smaller rival has confirmed a round of funding, and projects that it will be profitable by Q1 of next year. Gett, the transportation-on-demand startup that competes with the likes of Uber but also traditional taxi cabs, has raised $80 million led by existing investor VW with participation from other previous investors.

Post-funding, Gett is now valued at around $1.4 billion, CEO and founder Dave Waiser told TechCrunch in an interview, the first time the company has disclosed its value.