Skip to main content

Volkswagen just invested $300 million in Uber rival Gett

Volkswagen just invested $300 million in Uber rival Gett

Share this story

Volkswagen Group invested $300 million in Gett, a Tel Aviv-based black car-hailing app that routinely needles Uber in its marketing material. The investment is a sign that Volkswagen wants to branch into the highly competitive ride-sharing market as it continues to deal with the fallout from the diesel emissions scandal.

Gett is widely used in cities like Moscow and London, but has struggled to compete with Uber in the US, where it is only available in New York City. The investment from Volkswagen, which brings Gett's total funding up to $520 million, should help its efforts to grow stateside.

it's unclear if Gett is interested in expanding in the US

It's unclear if Gett is interested in expanding in the US. In a statement, the startup's CEO Shahar Waiser said Gett "will now accelerate its expansion to the rest of Europe, and strengthen its position in NYC, where we already operate."

On the investment from VW, Waiser said: "On-demand ride booking is growing rapidly. In that context, Gett provides the Volkswagen Group with the technology to expand beyond car ownership to on-demand mobility for consumers. Further, both companies are equally successful with consumers and businesses; and VW will now be able to expand its leadership position by also offering on-demand rides to the B2B market."

VW, for its part, says it aims "to become one of the world's leading mobility providers by 2025," according to Matthias Müller, chair of the Board of Management of Volkswagen Aktiengesellschaft. "Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs."

In addition to black cars, Gett also offers delivery services and logistics. The company is most well-known for its aggressively anti-Uber marketing campaign. Earlier this month, Gett announced a new fee structure for its drivers in New York City, prominently advertising a 10 percent take from fares — a commission that undercuts Uber by at least 10 percent. Gett also tried enticing riders with its "surge sucks" ad campaign.

Today’s Storystream

Feed refreshed Two hours ago Not just you

T
Youtube
Thomas RickerTwo hours ago
Table breaks before Apple Watch Ultra’s sapphire glass.

”It’s the most rugged and capable Apple Watch yet,” said Apple at the launch of the Apple Watch Ultra (read The Verge review here). YouTuber TechRax put that claim to the test with a series of drop, scratch, and hammer tests. Takeaways: the titanium case will scratch with enough abuse, and that flat sapphire front crystal is tough — tougher than the table which cracks before the Ultra fails — but not indestructible.


E
Twitter
Emma RothSep 25
Rihanna’s headlining the Super Bowl Halftime Show.

Apple Music’s set to sponsor the Halftime Show next February, and it’s starting out strong with a performance from Rihanna. I honestly can’t remember which company sponsored the Halftime Show before Pepsi, so it’ll be nice to see how Apple handles the show for Super Bowl LVII.


E
Twitter
Emma RothSep 25
Starlink is growing.

The Elon Musk-owned satellite internet service, which covers all seven continents including Antarctica, has now made over 1 million user terminals. Musk has big plans for the service, which he hopes to expand to cruise ships, planes, and even school buses.

Musk recently said he’ll sidestep sanctions to activate the service in Iran, where the government put restrictions on communications due to mass protests. He followed through on his promise to bring Starlink to Ukraine at the start of Russia’s invasion, so we’ll have to wait and see if he manages to bring the service to Iran as well.


E
External Link
Emma RothSep 25
We might not get another Apple event this year.

While Apple was initially expected to hold an event to launch its rumored M2-equipped Macs and iPads in October, Bloomberg’s Mark Gurman predicts Apple will announce its new devices in a series of press releases, website updates, and media briefings instead.

I know that it probably takes a lot of work to put these polished events together, but if Apple does pass on it this year, I will kind of miss vibing to the livestream’s music and seeing all the new products get presented.


Welcome to the new Verge

Revolutionizing the media with blog posts

Nilay PatelSep 13
E
External Link
Emma RothSep 24
California Governor Gavin Newsom vetoes the state’s “BitLicense” law.

The bill, called the Digital Financial Assets Law, would establish a regulatory framework for companies that transact with cryptocurrency in the state, similar to New York’s BitLicense system. In a statement, Newsom says it’s “premature to lock a licensing structure” and that implementing such a program is a “costly undertaking:”

A more flexible approach is needed to ensure regulatory oversight can keep up with rapidly evolving technology and use cases, and is tailored with the proper tools to address trends and mitigate consumer harm.


A
Youtube
Andrew WebsterSep 24
Look at this Thing.

At its Tudum event today, Netflix showed off a new clip from the Tim Burton series Wednesday, which focused on a very important character: the sentient hand known as Thing. The full series starts streaming on November 23rd.


A
The Verge
Andrew WebsterSep 24
Get ready for some Netflix news.

At 1PM ET today Netflix is streaming its second annual Tudum event, where you can expect to hear news about and see trailers from its biggest franchises, including The Witcher and Bridgerton. I’ll be covering the event live alongside my colleague Charles Pulliam-Moore, and you can also watch along at the link below. There will be lots of expected names during the stream, but I have my fingers crossed for a new season of Hemlock Grove.