GoTo Global

growth-negative

GoTo, the Israeli ride-sharing company known for operating Autotel, announced that it will sell its operations in Spain for 1.6 million euros due to a pursuit of profitability. The sale comes a year after the company exited bankruptcy, where it operated from 2018. GoTo currently operates in Israel and Germany, but only the operations in Israel are profitable.

growth-negative

Goto, a shared mobility company, has seen a nearly 30% drop in its stock price since it began trading on the Tel Aviv Stock Exchange two weeks ago. The companys market value was estimated at around 96 million dollars, but at the end of trading yesterday, it stood at about 110 million shekels. Investors who recently invested based on a market value of about 330 million shekels are even more at a loss. Despite this, CEO Gil Laiser expresses confidence and has purchased shares of the company.

growth-positive

Nerotech Media has announced the completion of its merger with GoTo Global, a shared transportation company. GoTo Global will become a public company and will be listed on the Tel Aviv Stock Exchange. The merger has been approved and Gil Laser has been appointed as the CEO of the merged company. The new board of directors includes representatives from DBSI, Solutum Technologies, and V.R.T Technologies. During the preliminary funding round, GoTo Global raised approximately $22 million from investors such as ASTARA, ION, and Israeli investment firms. The valuation of the merged companies is approximately $160 million. The merger will result in GoTo Global entering public trading on the Tel Aviv Stock Exchange.

growth-positive

GoTo Global, a multimodal shared mobility company, has secured a strategic investment of $5 million from global mobility group ASTARA. This investment is part of a pre-IPO round and follows a previous investment of $6 million from existing investors. GoTo Global currently operates in Israel, Germany, Spain, and Malta, offering users various vehicles through a single app. The company has 5,800 vehicles on the road, serving 450,000 users and providing almost 3 million rides. The investment brings GoTo Global closer to completing its planned merger and becoming a public company. The shared mobility market is expected to reach $675 billion by 2025, with Europe accounting for 20% of it.

growth-positive

Israeli mobility company GoTo Global is going public on the Tel Aviv Stock Exchange through a merger with shell company Nera Tech Media. The merger will provide GoTo with access to $12 million in cash assets to expand its footprint in Germany. GoTo plans to use the funding to build out its vehicle offerings in Germany and invest in product development. The company has a fleet of 5,800 vehicles and has partnerships with companies like Renault, Toyota, Nio, and Segway. GoTo expects to earn $35 million in revenue by the end of the year and aims to double its user base by targeting B2B customers. The merger is expected to close in early April.

growth-positive

GoTo Global, a mobility company, is going public on the Tel Aviv Stock Exchange through a merger with Nera Tech Media. The newly formed company will be called GoTo and will have a market cap value of $163 million. GoTo offers subscribers the ability to book various vehicles in its app and expects to earn $35 million in revenue by the end of 2022. The company plans to expand into new cities, increase its B2B activities, and add additional products and services.

growth-positive

GoTo Global Mobility, an Israeli shared multimodal mobility operator, has acquired German shared electric scooter company emmy. The acquisition will help GoTo Global expand to every major European city by 2025. The deal includes emmys fleet of over 3,000 shared electric scooters and their user base of more than 300,000 people. GoTo Global plans to integrate emmys service under its own brand umbrella and offer other forms of mobility in Germany starting Q1 of next year. The company recently raised $22.5 million and is raising more funds to expand into Italy, Netherlands, and Portugal. GoTo Global aims to be profitable and generate an annual revenue exceeding $116 million by the end of 2023. The companys strategy focuses on multimodality and brand loyalty to increase revenue per user.

growth-positive

GOTO Global Mobility Ltd has secured a $3.5 million investment from the Talcar Group, owned by the Ungar family. The investment is based on a $45 million pre-money valuation, representing a 50% increase from the previous round. As a result, the Talcar Group will hold 8.10% of GOTO Globals holdings. GOTO Global is a multi-modal shared mobility solution operating in Israel, Spain, and Malta. The company offers various shared mobility options through a single app and generated $12.5 million in revenue in 2020. The investment from Talcar Group, which has a strong connection with Kia, will support GOTO Globals international expansion and mission to bring shared mobility to major cities in Europe.

growth-positive

Adam Neumann, co-founder and former CEO of WeWork, has invested $10 million in shared mobility company GoTo Global through his family office, 166 2nd Financial Services. The investment is part of a $19 million Series B round and gives Neumann a 33% equity stake in the company. GoTo Global, which operates in Israel and Malta, plans to use the funding to expand into Europe. The company offers a range of shared vehicles, including cars, mopeds, bicycles, and electric scooters. This is Neumanns first investment since filing a lawsuit against SoftBank Group for pulling a $3 billion tender offer for WeWork shares.

growth-positive

GoTo, a multimodal shared mobility service, is adding 300 electric scooters to its fleet in Malta, aiming to provide an alternative to private car ownership. The company believes that shared mobility solutions will continue to rise as they offer a more sustainable solution for transportation. GoTo currently operates in three countries and 13 cities and is expanding in Europe.

growth-positive

Car2Go, a car-sharing company, plans to expand its service to cities throughout Europe through its subsidiary GoTo Mobility. GoTo will offer short and medium-term rentals of electric vehicles, motorized scooters, dockless electric scooters, and bicycles through a single app. The European operations are set to launch in 2020. Car2Gos parent company, Shagrir Group Vehicle Services, intends to roll out thousands of each type of vehicle during the expansion. Car2Go currently operates in Malta and has partnered with Groupe Renault to launch a fleet of 150 electric Renault vehicles for car-sharing use in Malta.

growth-positive

Moovit integrates GoTo Mobility into its app, allowing commuters to access shared cars and enjoy a full range of mobility options in Israel. This integration opens up new possibilities for GoTo Mobilitys customers and provides Moovit users with access to shared vehicles. Moovit is a leading Mobility as a Service (MaaS) platform and the #1 urban mobility app in the world. The integration is seen as a win-win partnership for both companies.

growth-positive

GoTo Malta, a subsidiary of GoTo Mobility, has launched a fleet of 150 electric Renault ZOE vehicles for local use in Malta. The move is part of the Maltese governments plan to have 5,000 electric cars on the islands roads by 2020. The government has committed to providing 450 parking and charging spaces exclusively for GoTos cars. Previously, GoTo and Renault piloted the ZOE in Haifa, Israel. This initiative is expected to have a positive impact on GoTo Mobilitys growth.

growth-positive

Car2Go, in partnership with the Haifa municipality, has launched a shared electric vehicle project in Israel. The project will initially operate with 100 Renault Zoe cars, with plans to add more vehicles depending on the results. The payment model is based on payment exclusively for travel time, with the price being more than a bus ride but less than a taxi. The service is free for the first two months and has already attracted over 2,000 subscribers. The project is part of the Easy to Breathe initiative to reduce air pollution in Israel, with over NIS 20 million invested. The Renault Zoe offers a 150-kilometer range and the service is accessed through an app.

growth-positive

Car2Go, an Israeli company, has announced the launch of a national car sharing system called GoTo in Malta. The system will have a fleet of 150 electric cars, supported by charging pillars and designated parking spaces. Customers will pay a monthly membership fee and a per-minute drive time fee. The company suggests that families could save €3,800 annually compared to owning a private car. The transport minister of Malta hopes that the car sharing system will reduce the dependency on private cars and help achieve the target of 5,000 electric vehicles on the road by 2020. Car2Go CEO believes that car sharing will reduce traffic by shifting people to alternative transport. The car-sharing market is projected to increase globally by 2021. The introduction of GoTo follows the setting-up of a bicycle sharing system in Malta.