With $ 120 million in investment, Cabify will be able to compete with Uber in Latin America.
Redefining startup Cabify , operating in Spain and Latin America, raised $ 120 million in the C series. Round was led by the Japanese ecommerce giant Rakuten , which also invested in the Lyft taxi service. At the end of the round, Cabify's estimate will reach $ 320 million.
The company plans to spend the funds on business expansion and expansion on both sides of the Atlantic. In particular, Cabify will soon appear in Brazil and Argentina. While the service works in 14 cities.
In 2014, Cabify's revenue grew 9 times, and in 2015 it showed a 7-fold increase.
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Previously, the company did not attract more than $ 30 million. But in light of the aforementioned financial indicators, Rakuten decided to invest a larger amount, writes TechCrunch.
In addition, Cabify management is going to cooperate with other transportation services, as well as with car manufacturers. The first partners of Cabify may be the portfolio company Rakuten Lyft and its investor, the auto concern Concern General Motors .
In the autumn, Lyft taxi service announced a partnership with Didi Kuadi , saying that the latter in 2015 invested $ 100 million in the company. Lyft CEO John Zimmer called the deal "the first step towards global reach."
Didi also invested in the largest taxi service in India, Ola Cabs, and a similar Malaysian company, GrabTaxi .
Didi invests mainly in Uber’s Asian rivals. After all, the countries of Southeast Asia are of great interest for taxi services: their total population is about 600 million people, many of them live in large cities and actively use smartphones.
In Latin America, partners have no agreement with any taxi service. So, Cabify has every chance to join Uber competitors.
Cabify competitors in Spain are Hailo and MyTaxi services , while in Latin America they are Uber, EasyTaxi and traditional taxi companies.
However, the head of the company Cabify Juan de Antonio considers his main competitor the concept of movement on their own transport - in particular, on cheap cars.
Juan de Antonio believes that the key competitive advantage of the service is high quality service. As the business expands, the company will strive to maintain this level everywhere.
The company plans to spend the funds on business expansion and expansion on both sides of the Atlantic. In particular, Cabify will soon appear in Brazil and Argentina. While the service works in 14 cities.
In 2014, Cabify's revenue grew 9 times, and in 2015 it showed a 7-fold increase.
')
Previously, the company did not attract more than $ 30 million. But in light of the aforementioned financial indicators, Rakuten decided to invest a larger amount, writes TechCrunch.
In addition, Cabify management is going to cooperate with other transportation services, as well as with car manufacturers. The first partners of Cabify may be the portfolio company Rakuten Lyft and its investor, the auto concern Concern General Motors .
In the autumn, Lyft taxi service announced a partnership with Didi Kuadi , saying that the latter in 2015 invested $ 100 million in the company. Lyft CEO John Zimmer called the deal "the first step towards global reach."
Didi also invested in the largest taxi service in India, Ola Cabs, and a similar Malaysian company, GrabTaxi .
Didi invests mainly in Uber’s Asian rivals. After all, the countries of Southeast Asia are of great interest for taxi services: their total population is about 600 million people, many of them live in large cities and actively use smartphones.
In Latin America, partners have no agreement with any taxi service. So, Cabify has every chance to join Uber competitors.
Cabify competitors in Spain are Hailo and MyTaxi services , while in Latin America they are Uber, EasyTaxi and traditional taxi companies.
However, the head of the company Cabify Juan de Antonio considers his main competitor the concept of movement on their own transport - in particular, on cheap cars.
Juan de Antonio believes that the key competitive advantage of the service is high quality service. As the business expands, the company will strive to maintain this level everywhere.
Source: https://habr.com/ru/post/300262/
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