Daily Management Review

Gett or Uber: Which IPO will be first?


Gett, taxi and other services company, can hold an IPO already this year. Perhaps it will be able to go public even earlier than Uber.

Plans to hold an initial public offering and become a public company were announced by CEO Dave (Shahar) Waiser. 

Earlier, the Israeli newspaper Globes, citing Waiser’s letter to the company's employees, told that Gett was preparing to enter an IPO before the end of 2019. According to the publication, the company has already begun consultations on this issue.

"Our leadership in the corporate segment, performance and growth indicators show that the company can be in demand in the public market. We reserve this opportunity, including in 2019," he said.

In addition, the company intends to reach the operating profit in all markets of the online taxi aggregator presence, said Head of Gett.

In this case, Waiser did not give a forecast when exactly this will happen. He explained that the main segment of the company's revenue is corporate transportation.

Uber has also been talking about plans to hold an IPO for more than a year. However, so far it has not come further than words.

In early January, the company's chief executive Dara Khosrowshahi in an interview with The Wall Street Journal in Singapore, said that the turbulence of the US stock market is unlikely to interfere with IPO of Uber Technologies Inc. 

"Any company that enters the open market would like to do this in a positive environment, against the backdrop of a stable market," he said. At the same time, Khosrowshahi stressed that Uber is a large and flexible company that is able to successfully make a listing in almost any market situation.

“We will do this when we are ready, and hopefully the markets will be in good condition,” he added.

source: globes.co.il