Bloomberg News

Daimler Acquires 15% of MyTaxi App for Clicking to Hail a Cab

February 01, 2012

Jan. 23 (Bloomberg) -- Daimler AG, Germany’s third-largest carmaker, bought a 15 percent stake in MyTaxi, a provider of an application that allows people to order a taxi with a click on an iPhone or Android device.

Daimler’s Car2go unit and Xing AG founder Lars Hinrichs, together with previous MyTaxi stakeholders Deutsche Telekom AG’s T-Venture division and Germany’s KfW Group, invested a combined 10 million euros ($13 million), Sven Kuelper, chief executive officer and MyTaxi founder, said in an interview.

“We have seen rapid growth since we started” and the company is now intent on expanding beyond Germany and Austria, Kuelper said at MyTaxi’s headquarters, close to Hamburg’s Fischmarkt by the River Elbe. “We’ll start in Spain and Switzerland in February and are looking at other markets.”

About 800,000 people have downloaded the application and 7,000 taxi drivers are using it, the CEO said. The product is available in 30 cities in Germany and Austria, including Hamburg and Vienna, and will start service in Zurich and Barcelona in February, Kuelper said. MyTaxi is part of Intelligent Apps GmbH, with 55 employees.

The application shows available taxis on a map, allowing the customer to book the nearest one. A traveler can also figure out which taxis accept credit cards or have received high ratings from clients. Distance and arrival time are shown live on the display, as are the name, telephone number, registration number and photo of the driver. There is a fare calculator and a GPS feature for customers who don’t know their exact location.

Apple, Google

MyTaxi works with Apple Inc.’s iPhone, iPad and iPod Touch products, as well as on devices with Google Inc.’s Android software, and on the Web.

Daimler’s Car2go, which offers vehicles for rent without advance booking or the need to return cars to a particular place, is a good partner for MyTaxi, Robert Henrich, the unit’s chief, said in a statement.

“The services of Car2go and MyTaxi do not compete, but complement each other so that they can be combined to meet the needs of urban transportation in a practical and convenient way,” he said.

The Daimler-owned car-rental business also operates in Hamburg and Vienna, as well as in Amsterdam and Austin, Texas, and San Diego in the U.S.

--Editors: David Risser, Robert Valpuesta

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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