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Daimler Buys Stake in Taxify Startup
Daimler AG has spent more than $100 million to buy a stake in Taxify OU, a 5-year-old ride-hailing service based in Tallinn, Estonia.
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Daimler AG has spent more than $100 million to buy a stake in Taxify OU, a 5-year-old ride-hailing service based in Tallinn, Estonia.
The Financial Times says the investment is part of a funding round that values the startup at more than $1 billion. China’s DiDi Chuxing also joined the round as an investor.
Launched in 2013, Taxify has raised $175 million to date and currently operates in 40 African and European cities. The company expects to log rides representing $1 billion in revenue this year.
Daimler’s investment gives it a seat on Taxify’s board. FT says the carmaker also may incorporate the startup’s service in its own Moovel app, a move the newspaper says would expand the company’s customer base 25% to nearly 13 million people.
Taxify has not yet begun exploring self-driving vehicles for its service. But company founder Marcus Villig, tells FT he considers Daimler the “most progressive in both ride-sharing and autonomous vehicles.”
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