Uber’s growing influence is forcing a lot of consolidation across the ride-hailing landscape. In the latest news associated with the topic, Daimler backed MyTaxi is acquiring its Greek rival Taxibeat. This move follows MyTaxi’s previous merger with UK based Hailo, that took place less than a year ago.
Speaking on the topic, CEO Andrew Pinnington said:
We are very impressed with the success of Taxibeat in Greece and we believe that Taxibeat is a perfect fit for MyTaxi. With the acquisition of Taxibeat, we are investing in the development and growth of urban mobility in Europe. The acquisition is another strategic step in making MyTaxi the biggest, best and most loved taxi provider in Europe — providing everyday magic to millions of Europeans.
Nick Drandakis, founder and CEO of Taxibeat, said:
Today is a great day for Taxibeat. With mytaxi, an established and respected pioneer in the field of taxi ordering apps, we found the ideal partner for Taxibeat and our team. We share the same visions and a burning passion for the issue of new and advanced mobility concepts. We look forward to further innovative mobility solutions as we provide compelling offers for both drivers and passengers.
The financial details of the deal have not been made public yet.
MyTaxi is known for adopting a strategy of merging with or acquiring companies that complement its business and yet, operate in different demographics. As part of the tech company’s previous merger Andrew Pinnington, CEO of Hailo, had taken up the same mantle at MyTaxi. Niclaus Mewes, co-founder of Intelligent Apps, had gone on to become a managing director at parent Daimler.
The move appears to have been brought on — at least in part — by Uber’s increasing dominance in Europe. Uber started early in a market that had a lot of demand and very little supply. Now though, the landscape has shifted substantially and we have domestic companies competing against Uber’s alien presence in their countries. However, the overbearing presence the US-based startup brings to the table is making it very difficult and is forcing other companies to join hands where possible.
The acquisition will allow MyTaxi to add 500,000 riders and 8,000 drivers to its 10 million users and 100,000 registered drivers. The company already operates across 50 European cities and with this, will gain strong traction in Greece and Peru as well. MyTaxi says that we can expect a re-branding exercise to follow in the near future.