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03 Sep


Daimler Acquires RideScout to Expand in to Ride Sharing

September 3, 2014 | By |

Daimler AG  Wednesday became the first major car maker to enter the ride-sharing business, a fast-growing market currently dominated by startups like Uber Technologies Inc.

Daimler, whose Mercedes-Benz cars are popular with taxi services in parts of Europe, said it would acquire the U.S.’s RideScout LLC and Germany-based Intelligent Apps GmbH, which operates the mytaxi cab-booking app.

The value of the acquisitions is small at less than $100 million, according to people familiar with the situation. Daimler is making the acquisitions through its Moovel GmbH unit, in which Daimler has consolidated its mobility services business, including Car2Go GmbH. Car2Go acquired a minority stake in mytaxi in 2012. Read more on Wall Street Journal.