AP NEWS
Press release content from PR Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from PR Newswire
Press release content from PR Newswire. The AP news staff was not involved in its creation.

Gett Becomes Operationally Profitable Driven by Strong Growth Across All Business Divisions

January 23, 2020 GMT
Consolidated all countries EBITDA (before central and R&D cost) YoY progressio (PRNewsfoto/Gett)
Consolidated all countries EBITDA (before central and R&D cost) YoY progressio (PRNewsfoto/Gett)

LONDON, Jan. 23, 2020 /PRNewswire/ -- Gett, the global leader in corporate on-demand transportation, announces that it became operationally profitable in December 2019, with the Company reporting a positive consolidated all countries EBITDA of $0.3 million (before fixed central and R&D cost).

The Company is now operationally profitable across each of its Transportation, Delivery, and Shuttle product lines.

Gett launched one of the first-ever on-demand corporate travel services back in 2010 in Israel and attracted Google and Disney as its first clients.

Today more than 17,000 companies, including a third of the Fortune 500, use Gett’s ninth generation B2B technology to move their workforces safely across the world. Gett has grown its client portfolio at a 70% CAGR and is winning 400-500 new clients each month.

Gett’s B2B Generation 10 offers corporate clients the unique ability to aggregate all their ground travel needs on one single booking platform, hosting a collection of local and global vendors, for on-demand ride-hailing, taxi, chauffeur and limousine services across 100 countries.

Dave Waiser, Chief Executive Officer of Gett, commented: “With the global roll-out of our 10th generation of B2B product in 2020, we will change the way corporates travel, create a new industry standard and introduce the most advanced technology in the space.

“Becoming profitable in our operations globally bears testament to the strength of our business model and reinforces our position as the leading corporate transportation service.”

This news comes after Gett announced a strategic partnership with ride-hailing firm Lyft in November 2019, allowing Gett’s corporate customers traveling in the United States to request rides through the Gett app and be matched with a driver on the Lyft network. This partnership will allow Gett to expand its reach across the United States, seamlessly serving its corporate clients on the Lyft network through Gett’s SaaS platform for business travellers.

Consolidated all countries EBITDA (before central and R&D cost) YoY progression

About Gett

Gett is the leading corporate SaaS solution for ground transportation across Europe and North America. Its cloud-based solution offers a unique ability to aggregate all ground travel needs by connecting a range of vendors on one single booking platform. Gett’s corporate solution provides a single point of entry to a global network in hundreds of cities worldwide, saving millions of dollars on ground transportation while ensuring the highest level of employees’ satisfaction.

Founded in 2010, Gett has always been very strong in the corporate segment, immediately after launching the app in 2010, Gett signed its first corporate customer. Since then, over 17,000 other corporations joined the Gett service.

Today, Gett is leading the innovation in corporate ground travel. The B2B proposition, underpinned by high consumer service and cutting-edge technology is already serving thousands of leading corporations around the world.

Gett raised more than $800M in venture funding, including $300M+ from Volkswagen.

For media enquiries please contact:
Azadeh Varzi / Alice Gibb / Isabelle Saber
Gett@brunswickgroup.com / +44 (0)207-404-5959

View original content to download multimedia: http://www.prnewswire.com/news-releases/gett-becomes-operationally-profitable-driven-by-strong-growth-across-all-business-divisions-300992114.html

SOURCE Gett