mytaxi acquires taxibeat, the leading taxi app in Greece, for around €40 million

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Taxibeat-founder-Nick-Drandakis

mytaxi, the Hamburg-based taxi e-hailing company, announced today that it has acquired Taxibeat LTD, the operator of the popular taxi booking app Taxibeat in Greece. With this acquisition, mytaxi has consolidated its presence in the international mobility market and strengthened its position as Europe’s leading taxi e-hailing company. The parties agreed not to disclose the details of the acquisition, but our sources close to the situation stated that the acquisition price is somewhere around €40 million.

Taxibeat was founded in 2011 by Nick Drandakis, who we interviewed shortly after the company started. Today, Taxibeat is active in Greece and Peru. In Greece, Taxibeat has 8.000 registered taxi drivers, around 540.000 customers and operates in two cities (Athens, Thessaloniki). Taxibeat in Greece will be integrated into the mytaxi platform in the coming months and will be re-branded into mytaxi. Through the purchase of Taxibeat, mytaxi plans to accelerate the international expansion of the taxi booking app in Europe.

Launched in 2009, mytaxi is a subsidiary of Daimler and was the world’s first app to enable a direct connection between taxi users and taxi drivers. With a global volume of more than 10 million downloads, over 100.000 registered drivers and an availability in more than 50 cities in nine European countries, mytaxi is a frontrunner in the field of taxi booking apps. Greece will become the tenth country in Europe in which mytaxi operates.

Andrew Pinnington, the CEO at mytaxi stated: “We are very impressed with the success of Taxibeat in Greece and we believe that Taxibeat is a perfect fit for mytaxi. With the acquisition of Taxibeat, we are investing in the development and growth of urban mobility in Europe. The acquisition is another strategic step in making mytaxi the biggest, best and most loved taxi provider in Europe – providing everyday magic to millions of Europeans. As we have mentioned before, we will achieve our ambitious goals in many different ways, whether that be through organic growth, partnerships or further merger & acquisition activity.”

Nick Drandakis, founder and CEO of Taxibeat, said: “With mytaxi, an established and respected pioneer in the field of taxi ordering apps, we found the ideal partner for Taxibeat and our team. We share the same visions and a burning passion for the issue of new and advanced mobility concepts. We look forward to further innovative mobility solutions as we provide compelling offers for both drivers and passengers.”