November 5, 2015 at 17:39While Uber launches in Minsk, Gett triples turnover and discusses IPO
Company Gett boldly looks to the future. Company founder Shahar Weiser expects to triple the turnover of the online taxi call service year to year. Weiser predicts that by the end of 2015, the annual turnover will be $ 0.5 billion worldwide. “The turnover has tripled every year since the company was established in 2010,” he said.
Mr. Weiser considers it feasible to conduct an IPO, but only in the long term:
“A company that has reached half a billion dollars in revenue grows 3 times every year, of course, it can become public. Another thing is that while you are growing so fast, you need to focus on growth and not on the placement of shares in the market. ”
The company's revenue dynamics correspond to the growth of the online taxi services market, which, according to Merku research companyalso triple the last years. Taxi market in Russia, which has so far mainly represented by traditional services in this area is estimated Merku in 2015 to $ 9 billion, resulting TASS data.
Russia for Gett is a “significant market”. 20 thousand licensed carriers operate in our country - this is over 10% of all taxis in Russia. In general, the country has more than 180 thousand cars that are engaged in transportation.
“With the advent of online services, the demand for a taxi began to grow, and over the next 3-4 years it may be 2-3 times more. Therefore, we can say that the modified market will reach $ 15- $ 20 billion per year, ”Weiser predicts.
He recalled that the traditional taxi market is one of the oldest markets in the world, which globally grows by only 3-5% per year.
To date, Gett's online taxi booking service is available in four countries, including Russia, Israel, the UK, and the United States. The service operates in 57 cities, of which nine are Russian: Moscow, St. Petersburg, Novosibirsk, Nizhny Novgorod, Sochi, Rostov-on-Don, Samara, Yekaterinburg and Krasnoyarsk. Gett service is used by more than 10 million people.
Investments in the development of the company to date have amounted to about $ 200 million: such large investment funds as InVenture Partners , Baring Vostok , Vostok Nafta , Access Industries have invested in the project .
In Russia and the CIS countries, another taxi service is also gaining momentum - Uber . According to the company's plan, by the end of 2016, the service should appear in all Russian cities with over one million people.
Today, Uber launched in Minsk. Belarusian users have already begun testing the service. So far , only Uber Black is available to users - comfort class cars. Car delivery costs 45 thousand Belarusian rubles (164.8 Russian rubles at the exchange rate on November 5, 2015), travel costs almost 7003 Belarusian rubles per kilometer (25.65 rubles), 1250 Belarusian rubles (4.58 rubles) per minute of inactivity. The minimum order value is 60 thousand Belarusian rubles (219.74 rubles). For cancellation of the order, the client will pay the same.
Mr. Weiser considers it feasible to conduct an IPO, but only in the long term:
“A company that has reached half a billion dollars in revenue grows 3 times every year, of course, it can become public. Another thing is that while you are growing so fast, you need to focus on growth and not on the placement of shares in the market. ”
The company's revenue dynamics correspond to the growth of the online taxi services market, which, according to Merku research companyalso triple the last years. Taxi market in Russia, which has so far mainly represented by traditional services in this area is estimated Merku in 2015 to $ 9 billion, resulting TASS data.
Russia for Gett is a “significant market”. 20 thousand licensed carriers operate in our country - this is over 10% of all taxis in Russia. In general, the country has more than 180 thousand cars that are engaged in transportation.
“With the advent of online services, the demand for a taxi began to grow, and over the next 3-4 years it may be 2-3 times more. Therefore, we can say that the modified market will reach $ 15- $ 20 billion per year, ”Weiser predicts.
He recalled that the traditional taxi market is one of the oldest markets in the world, which globally grows by only 3-5% per year.
To date, Gett's online taxi booking service is available in four countries, including Russia, Israel, the UK, and the United States. The service operates in 57 cities, of which nine are Russian: Moscow, St. Petersburg, Novosibirsk, Nizhny Novgorod, Sochi, Rostov-on-Don, Samara, Yekaterinburg and Krasnoyarsk. Gett service is used by more than 10 million people.
Investments in the development of the company to date have amounted to about $ 200 million: such large investment funds as InVenture Partners , Baring Vostok , Vostok Nafta , Access Industries have invested in the project .
In Russia and the CIS countries, another taxi service is also gaining momentum - Uber . According to the company's plan, by the end of 2016, the service should appear in all Russian cities with over one million people.
Today, Uber launched in Minsk. Belarusian users have already begun testing the service. So far , only Uber Black is available to users - comfort class cars. Car delivery costs 45 thousand Belarusian rubles (164.8 Russian rubles at the exchange rate on November 5, 2015), travel costs almost 7003 Belarusian rubles per kilometer (25.65 rubles), 1250 Belarusian rubles (4.58 rubles) per minute of inactivity. The minimum order value is 60 thousand Belarusian rubles (219.74 rubles). For cancellation of the order, the client will pay the same.