In New York City, ride-sharing services abound. While hailing a yellow cab is still commonplace, the landscape for transportation apps is crowded, with companies like Uber, Lyft, Via and Gett competing to set themselves apart.
This week, Gett, the on-demand car service that provides riders with flat rates that never surge, acquired Juno, a rival service in New York. The price of the deal was $200 million.
Through the acquisition, Juno’s existing network of drivers, corporate employees and founding team will join Gett’s operations. On the heels of the deal, Gett plans to expand to new markets, bringing the company in closer competition with long-standing ride-sharing giants Uber and Lyft.
Gett launched in Tel Aviv in 2011 as the only on-demand black car app that provides affordable, flat rates that never surge, regardless of weather, traffic or demand. The company first came to New York in 2012 and has raised over $500 million in funding to date.
Juno made headlines in 2016 for putting it’s drivers welfare first as a company in the on-demand space, setting aside half of its shares to be split amongst drivers. With Uber’s recent fallouts still prevalent, the populous ride-sharing space is in need of disruption, which Gett seems to be after from both the driver and passenger side of the equation.
Image via Gett.
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