from the May 2017 issue

Israeli taxi app Gett buys Juno for $200m

Last week, Gett (formerly GetTaxi) acquired New York rival Juno for $200 million and following the purchase founder and CEO David Waiser said that his company would be looking to raise more money this year. Nevertheless, a substantial amount of the acquisition of Juno will reportedly be in shares rather than cash.

Last year Gett raised $300 million at a company value of $1 billion the company now sees itself being worth more than $2 billion. Such a valuation would make Gett, Israel's most valuable startup.

Gett has raised well over $500 million since its inception and other major investors include billionaire Len Blavatnik's Access Industries and Swedish fund manager Vostok Nafta Investment Ltd. Gett operates in around 100 cities globally, including New York, Moscow, London and throughout the UK as well cities in its home base of Israel.

Reprinted from the Israel High-Tech & Investment Report May 2017

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