GoTo Global, a mobility company operating in Israel, Germany,
Spain and Malta, is going public on the Tel Aviv Stock Exchange through a
merger with shell company Nera Tech Media.
The newly formed company will be called GoTo and will have a
market cap value of $163 million.
GoTo offers subscribers the ability to book cars, bikes,
electric scooters and mopeds in its app. It currently has more than 450,000
subscribers and 5,800 vehicles.
The company says it expects to earn $35 million in revenue by
the end of 2022, an increase of 58% compared to 2021.
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“Transforming GoTo Global into a public company is a significant
milestone in achieving our unique vision for shared mobility,” says Gil Laser,
CEO of GoTo Global.
“People across the world are embracing shared mobility at a
faster pace than ever before, and city dwellers are becoming ever more
multimodal. GoTo is perfectly positioned to help users embrace a true
multimodal mobility experience in a simple and seamless way, all via one app.
We believe in our product, our team and our dynamic way of doing things and
look to continue creating added value for customers and shareholders alike.”
Founded in 2008, GoTo’s prior investors include DBSI Group,
Nazare Capital Management - the family office of WeWork founder Adam Neumann, DQuadrat
Equity Partner and IBB Ventures.
The company says it plans to expand into new cities, increase
its B2B activities and add additional products and services.