RIDE-HAILING APPS
Gett weighs exiting US by selling Juno in volte-face over Uber
Tel Aviv/London/Frankfurt — Ride-hailing app Gett, which competes with Uber Technologies, is weighing a US exit, just more than a year after spending $200m to enter the market. The Israeli tech company may sell Juno, the New York-based start-up it bought in April 2017, people familiar with the deliberations said, who asked not to be named discussing private information. Juno represents the bulk of Gett’s US operations. There is no guarantee Gett would sell Juno, the people said, adding that alternative options were still being considered. A spokeswoman for Gett declined to comment. The reason for the withdrawal stems from a struggle to contain rising costs at Juno, the people said. However, a person with direct knowledge of the company said Juno had made a profit in the first quarter of 2018 and that Gett aimed to be profitable in the first quarter of 2019. The retreat from the US would be an about-face in Gett’s attempt to bolster its chances against the world’s largest ride-sharin...
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