Lyft Expands London Presence with Acquisition of Black Cab App Gett

Lyft to Acquire British Black Cab App Gett: A Strategic Move in the Transport Industry

In a significant development in the ridesharing industry, U.S.-based rideshare company Lyft has announced its acquisition of British black cab app Gett. This move is set to bring the majority of registered black cab drivers in Greater London onto the Lyft platform, marking a substantial expansion for the company. The deal is expected to be finalized in the coming weeks, signaling a new chapter for both Lyft and Gett.

With the addition of Gett, Lyft is poised to offer a comprehensive suite of ground transport options, ranging from black cabs and private hire to bikes and executive chauffeur services. This strategic acquisition is projected to nearly double the number of rides available on the Lyft platform throughout the capital. Once the acquisition is complete, Gett’s team will transition to ‘Freenow by Lyft’, aligning with Lyft’s commitment to enhancing its service offerings and market presence.

Matteo de Renzi, CEO of Gett, expressed his enthusiasm about the acquisition, stating, “We are delighted to start a new chapter for Gett operations in the UK with Lyft. I’m confident that under this new ownership, the team at Gett by Lyft will continue to reach new heights, for the benefit of all our customers, drivers, and partners.”

The acquisition of Gett by Lyft comes at a time when the mobility and transport sector is experiencing notable advancements and investments across Europe. Recent developments in Germany, the UK, and elsewhere highlight the growing focus on innovative technologies and sustainable solutions in the transportation industry. From high-performance 3D-printed electric motors to predictive battery analytics for electric vehicles, the landscape is evolving rapidly to meet the demands of a changing market.

In the realm of mergers and acquisitions, Lyft’s move to acquire Gett aligns with the broader trends in autonomous driving, public transport software, fleet electrification, EV charging, and shared mobility solutions. The acquisition of Gett is seen as a strategic step towards expanding Lyft’s coverage of London’s ground transport ecosystem and solidifying its position as a leading player in the market.

Jeremy Bird, EVP of Global Growth at Lyft, emphasized the significance of the acquisition, stating, “With Gett, Lyft is expanding its coverage of London’s full ground transport ecosystem. This milestone reflects Lyft’s commitment to the London market and our belief in its long-term potential. Adding Gett to Lyft’s ecosystem positions Lyft as the leading app for London black cabs.”

Founded in 2010, Gett boasts a strong presence in the UK market, with a large network of Tfl registered black cab drivers and impressive pick-up times in Central London. The company’s focus on zero-emission capable vehicles aligns with Lyft’s sustainability goals and commitment to environmental responsibility.

Upon finalizing the acquisition, Lyft will integrate Gett into its growing mobility platform, which includes Freenow, Santander Cycles, and upcoming autonomous ride testing in London with Baidu. This strategic move positions Lyft as a frontrunner in offering a comprehensive range of transport options, including human-driven and autonomous rides, in the dynamic London market.

In conclusion, Lyft’s planned acquisition of Gett represents a significant milestone in the company’s growth strategy and market expansion. By integrating Gett’s services and expertise into its platform, Lyft is poised to enhance its offerings and solidify its position as a leading player in the evolving transportation landscape. The acquisition underscores Lyft’s commitment to innovation, sustainability, and customer-centric service, setting the stage for future growth and success in the competitive ridesharing industry.