Gett taxi service is about to become a public company with a valuation of $ 1.1 billion was going to go public. According to The Wall Street Journal, the Israeli-based company is preparing for a merger that will help it go public with a valuation of $ 1.1 billion.
According to newspaper sources, Gett is now close to a deal with Rosecliff Acquisition. This is a SPAC company that is created for others to go public. It is assumed that under this deal, Gett will be able to attract about $ 30 million in private investment. The merger is another attempt by Gett to reorient after the closure of Juno car rental service in 2019, The Wall Street Journal points out.
The company had already planned an IPO in 2020, when the service was able to raise $ 200 million from its shareholders and reached a valuation of $ 1.5 billion. In January 2021, Gett closed the $ 115 million investment round. In total, since its inception, Gett has raised $ 913 million from Volkswagen, Access and its founder Leonard Blavatnik, Kreos, MCI and other investors.
Gett was founded in 2010 in Israel by Russian-born Shahar Weiser. Two years later, it appeared on the Russian market. The company's website notes that today you can order a taxi in 1000 cities and towns of Russia – from Kaliningrad to Vladivostok.