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Report: Gett May Abandon Juno Ride-Hailing Service in U.S.
Israeli tech company Gett Inc. may sell the U.S. arm of its Juno ride-hailing service after only 14 months, sources tell Bloomberg News.
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Israeli tech company Gett Inc. may sell the U.S. arm of its Juno ride-hailing service after only 14 months, sources tell Bloomberg News.
Juno competes with the likes of Lyft and Uber in New York City. Bloomberg’s sources say Gett has made no decision and also is exploring other options.
The company spent $200 million in April 2017 to launch Juno in the American market. Gett also operates ride-hailing services in Israel, Russia and the U.K.
Volkswagen AG invested $300 million in Gett in 2016 to help launch service in Berlin and elsewhere in Europe. But Bloomberg says the carmaker has since refocused on Moia, its own personal mobility service. Bloomberg notes that a $500 million fundraising round launched by Gett earlier this year raised only $80 million.
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