iMENA & Rocket Internet Partner To Bring Mobile Taxi App To The Middle East
USD 7M investment by iMENA - The largest ever investment in a mobile application business in the Middle East
23 OCTOBER 2013
SummaryAbu Dhabi, 23rd October 2013 – Rocket Internet, the world’s largest internet incubator and iMENA Holding, the leading online investor and operator in the MENA region, announced a partnership to launch ‘Easy Taxi,’ Rocket’s mobile taxi app, in the Middle East. The partnership will see iMENA investing USD 7M into a new venture that will bring the successful app model to Middle Eastern customers, starting with Saudi Arabia, where the service went live today.
This investment represents the largest funding to-date for a mobile application business in the region. With a steady growth and global rollout in Latin America, Africa and Asia, the app model enables investor confidence, for a rewarding future in the business of mobile applications.
Easy Taxi (www.easytaxi.com) was launched by Rocket Internet in 2011 and is now one of the world’s leading mobile Taxi apps, connecting drivers and passengers in a smooth, easy and safe way. The app, available for iOS, Android and new Blackberry devices, confirms the customer’s pickup point and orders the closest cab in his vicinity, with the press of a button. In seconds, a confirmation of the driver’s name, photo, and car model and plate number are sent to the phone. From here on, customers can follow the vehicle’s location in real-time as it approaches, favorite addresses can be saved and the ride history checked. Since drivers are checked for compliance, before joining the network, passengers can be absolutely content about their safety and can simply enjoy their ride.
Currently, Easy Taxi is available in 15 markets including Latin America, Africa and Asia. Globally, Easy Taxi app has more than 2.000.000 downloads and over 60.000 taxi drivers in the network. Earlier this year, Easy Taxi received fresh capital from Rocket Internet, the Latin America Internet Holding (LIH) and the African Internet Holding (AIH).
“We are thrilled to collaborate with Rocket Internet once again for the launch of Easy Taxi in the Middle East. The company’s scale and achievements after only two years of operations are highly impressive. Given the management’s track record, the trend of mobile apps, and the market’s macro outlook, we are very confident in the regional success of Easy Taxi. With our strong global partners AIH, LIH and Rocket Internet, as well as our regional partners, including Etisalat Group and their operating companies across the region, we believe, we can redefine the online business in the Middle East and set the path for a successful and profitable future”, said Khaldoon Tabaza, iMENA’s co-founder and Managing Director.
Dr. Eyad Alkassar, Rocket Internet’s Managing Director and Co-Founder of Namshi commented: “Following our successful partnership for Hellofood, announced in September 2013, we are proud to be supported once again by iMENA. This collaboration will allow us to trigger Easy Taxi’s expansion in the Middle East. Due to iMENA’s great experience in backing businesses in the Middle East, they are the perfect partner for our global expansion plans and will help us to achieve our all-time goal: to connect taxi drivers and passengers in the best possible and easiest way worldwide.“
About iMENA Holdings
MENA Holdings is the leading group of online consumer businesses in the Middle East and North Africa (MENA) region. The company invests in, builds and partners with leading teams and organizations to form an integrated and actively managed group of online platforms in the Middle East and North African (MENA) region. In addition to its investment activities, iMENA Holdings offers its partners a wide range of strategic and operational support, which includes the provision of professional services, representation and distribution agreements, partnerships, joint ventures and licensing of technologies or products for the MENA region. With the strategic support of Etisalat Group, a leading telecommunication holding in emerging markets and investment capital from the region and around the globe, iMENA's strategy is to own and operate companies with proven business models, executed through the establishment of new businesses, partnering with established leaders and investing in existing companies.
About Rocket Internet
Rocket Internet, the world’s largest incubator was founded in 2007 by Alexander, Marc and Oliver Samwer. The company is headquartered in Berlin, Germany, and operates 25 international offices on five continents. Over the past 15 years, Rocket and the Samwer Brothers have created, developed, and successfully exited over 25 significant online businesses to leading international companies such as eBay, Groupon, Rakuten, and NBC Universal. They were also early investors in Facebook, LinkedIn, Eventbrite and many other successful internet companies.
About Rocket Internet
About Rocket Internet
Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.