- car2go GmbH invests and starts a strategic partnership with the popular taxi-app
- Lars Hinrichs, founder of XING and Hackfwd, invests in myTaxi
- Existing investors T-Venture, the venture capital of Deutsche Telekom AG, and KfW Bankengruppe participate in the capital increase
- myTaxi is the most popular and fastest growing taxi-app on the European market with a market share of 80%
Founders and CEOs of myTaxi: Sven Külper & Niclaus Mewes
Hamburg, 23rd of January 2012 – myTaxi, the pioneer and market leader with the largest taxi transport system worldwide with 800,000 app-downloads and 7,000 registered taxi drivers, has extended its group of current investors. Daimler AG subsidiary company car2go GmbH joins the board of the Hamburg-based company acquiring a minority stake. Lars Hinrichs, founder of XING and Hackfwd, is also added to the group of myTaxi shareholders. The existing investors T-Venture, the venture capital of Deutsche Telekom AG, and KfW Bankengruppe, all contributed to the capital increase to promote the rapid growth of the company.
The capital increase will nurture a market expansion for myTaxi in Europe. myTaxi is already market leader in over 30 cities in Germany, Austria and Switzerland with a market share of 80%. Strategic partnerships with Deutsche Telekom Group and car2go will be further developed.
myTaxi has revolutionized the taxi market in less than ten months. For the first time, the customer can order a taxi directly via the innovative taxi-app, which makes dispatching centres obsolete. myTaxi offers a transparent and fair pricing model. Taxi drivers only pay small trip fees without having to pay any monthly fixed costs to dispatching centres.
“With car2go, we have already presented one successful solution to the challenges of urban mobility. Our investment in and strategic partnership with myTaxi is a way for us to expand upon bridging the gaps in public transportation. The services of car2go and myTaxi do not compete, but complement each other so that they can be combined to meet the needs of urban transportation in a practical and convenient way,” says Robert Henrich, CEO of the car2go GmbH.
Thomas Kiessling, Chief Product and Innovation Officer of Deutsche Telekom: “myTaxi is well in alignment with our strategy to increasing online services – partnerships with innovative start-ups is one example of how to accomplish this. We welcome the co-investment of Daimler AG in myTaxi as we can ensure a strong position for further growth of the company.”
“The digital ordering system will change the taxi market fundamentally. By being creative and revolutionary, myTaxi can become the leader of this billion Euro market in Europe,” says Lars Hinrichs.
Niclaus Mewes, CEO and founder of myTaxi: “More than 60 percent of all taxis in Germany are manufactured by Daimler AG. After Germany, Austria and Switzerland, countries such as England, Spain and the Netherlands will be targeted in co-operation with our new shareholders. By working closely with our partners car2go and Deutsche Telekom Group, we will all profit from the strategic partnership.”
About myTaxi: myTaxi is a product of Intelligent Apps GmbH. The Hamburg-based company was founded in June 2009 by Sven Külper and Niclaus Mewes and has 55 employees in Germany, Austria, Switzerland and Spain. Further international sites are in development. As first mover and market leader myTaxi has revolutionized the entire taxi industry. For the first time, it´s possible to order a taxi via App - without a conventional taxi dispatching service. Internationally, myTaxi offers taxi drivers the freedom to work independently without rigid structures, liabilities and monthly fixed costs. The app has an impressive innovative design, is easy to use and provides a transparent taxi booking process: The taxi driver is displayed with picture, name and phone number, a fare calculator controls the transport costs and taxi drivers and passengers can track each other on the map. Investors are T-Venture Holding GmbH, car2go GmbH, KfW Bankengruppe, Cinco Capital GmbH and e42 GmbH. For more information visit www.mytaxi.net
About T-Venture: T-Venture Holding GmbH was founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG. It has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above-average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in Foster City, Silicon Valley, and in Seattle. Investment activities focus on Europe, the United States and Asia. Further information is available at: www.t-venture.de
About car2go: A subsidiary of Daimler AG, car2go is an innovative mobility solution redefining individual transportation in rapidly growing urban areas by offering a fleet of several hundred environment-friendly smart fortwo vehicles for rent. It provides an innovative mode of “on-demand” transportation which compliments existing public transportation alternatives by bridging the gaps commonly associated with the “first and last mile” of a public transit commute.
car2go is currently operational in seven cities: Ulm and Hamburg in Germany, Austin (Texas) and San Diego (California) in the USA, Vancouver in Canada, Amsterdam in the Netherlands and Vienna in Austria. Unlike traditional carsharing programs or car rental companies, car2go is not station-based. car2go vehicles are located throughout the city and can be accessed “on-demand” without booking in advance. The members may use the vehicle for as long as they like, without committing to a specific return time or return location. Charges are based on minutes used and include fuel, insurance, parking and maintenance.
About ERP-Startfonds of the KfW banking group: Among its ventures, the KfW banking group finances and supports the setting-up of businesses, small to medium sized companies (KMU) as well as investments in the growth and employment sector in Germany. With ERP-Startfonds, administered and co-financed hereby, they especially contribute to innovative and technologically focused companies with good opportunities for growth. Research and product development are also financed along with market introduction of new products, procedures or services. The KfW is always involved with a lead investor and with exclusive market conditions. Since the year 2004, approx. 470 million Euros have been available to ERP-Startfonds for Investment in young technology companies.
Lars Hinrichs Cinco Capital GmbH: Cinco Capital is building a portfolio of holdings in private companies. Currently Cinco Capital holds investments in Europe and the U.S. in different industries such as technology, financial services, telecommunications, wholesale, marketing, media and others.
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