Posts Tagged ‘strategic partnerships’

Maker Of Taxi-Ordering App myTaxi Raises €10 Million From Daimler, Lars Hinrichs

January 23rd, 2012 01:08 admin View Comments

Intelligent Apps, the Hamburg, Germany-based startup behind popular taxi ordering smartphone application myTaxi, has raised 10 million euros in growth funding from car2go, a subsidiary of Daimler, Germany’s third largest carmaker. XING and Hackfwd founder Lars Hinrichs also participated in the financing round, as did previous backers T-Venture (Deutsche Telekom) and KfW Bankengruppe.

According to Bloomberg Businessweek, Daimler took a 15 percent stake in the mobile apps developer.

Intelligent Apps claims myTaxi has a market share of no less than 80 percent in Europe, and is still growing fast. The app has been downloaded 800,000 times to date, and 7,000 taxi drivers have registered for the service so far. Currently available in over 30 cities in Germany, Austria and Switzerland, Intelligent Apps says it aims to develop strategic partnerships with its investors, Deutsche Telekom and car2go.

For your background: Daimler is said to manufacture more than 60 percent of all taxis in Germany.

The startup says it will focus on expanding in countries like Spain, England and The Netherlands.

Last Summer, Sarah Lacy wrote a post about another European company in this space: Get Taxi.

Source: Maker Of Taxi-Ordering App myTaxi Raises €10 Million From Daimler, Lars Hinrichs

Ted Zagat (Of Zagat Survey Fame) Joins Facebook To Work On Payments Business

April 26th, 2011 04:16 admin View Comments

Facebook has scored a new talent win today—Univision’s Ted Zagat. Yes, of Zagat Survey fame. Ted is the son of Tim and Nina Zagat, the founders of the local entertainment and restaurant guide mini-empire.

Zagat was the President of his family business from 1999 to 2007. From 2007 until recently, he managed Univision’s Franchise Development & Strategic Partnerships group, which included licensing, e-commerce, live events, and financial services businesses as well as strategic partnerships. He also held jobs at Boston Consulting Group and and DLJ.

It appears that Zagat has hopped over to Facebook to work on its payments business. From the email he sent to his colleagues and friends: I wanted to share some exciting news: after a great run at Univision, I recently joined Facebook, where I’m helping to build the Payments business. Payments are one of the ways that Facebook monetizes its offering. Payments currently center on Facebook Credits, a virtual currency launched in 2010 to facilitate transactions. My team focuses on strategy, partnerships, and operations, while supporting the growth of our Advertising and Local businesses. Zagat also confirmed the move on his LinkedIn profile.

We know Facebook has big plans for Payments, most recently establishing a subsidiary called Facebook Payments to help manage payments to developers related to Facebook Credits. And for Facebook, Zagat seems like an ideal candidate to help expands Facebook Credits, perhaps into local deals. He can draw upon his experience with local merchants at Zagat Guides and clearly he has many years working in business development.

We’ve contacted Facebook for confirmation and will update when we hear back.

Source: Ted Zagat (Of Zagat Survey Fame) Joins Facebook To Work On Payments Business

Real Estate Listings Site Zillow Files For $51.75 Million IPO

April 18th, 2011 04:11 admin View Comments

As expected, real estate listings and search site Zillow has just filed its S-1, which indicates that the company will be pursuing a public offering. Zillow wants to raise $51.75 million in the offering, according to the SEC filing. It’s important to note that this is a placeholder amount that could change in the coming months. It appears that Citigroup is one of the underwriters of the IPO (others include Allen & Company, ThinkEquity, Needham & Company, and First Washington Corp.).

Zillow, which saw 19 million visitors in March, is now listing 100 million U.S. homes, including homes for sale, homes for rent and homes not currently on the market. For the years ended December 31, 2008, 2009 and 2010, the company generated revenues of $10.6 million, $17.5 million and $30.5 million, representing year-over-year growth of 49%, 65% and 74%, respectively. Unfortunately, in terms of income, Zillow has been taking a loss for the past three years, according to the filing.

Zillow, which launched a mortgage marketplace in 2008, expanded into rentals and mobile. The company’s traffic to its web and mobile sites is up 90 percent year-over-year and in March 2011, Zillow was used on a mobile device more than 8 million times, with more than 1.4 million homes viewed on mobile devices each day.

In terms of financial specifics, Zillow appears to be losing less money each year. The company lost $12.8 million in 2009, and lost roughly half of that ($6.7 million) in 2010. The company, which launched to the public in 2006, also revealed that as of December 31, 2010, it has an accumulated deficit of $78.7 million. Zillow forecasts that its revenue growth rate will decline in the future as a result of the “maturation” of its business.

Costs are also expected to rise for the company has it invests more money into product development; sales and marketing; technology infrastructure; strategic partnerships (Zillow powers Yahoo real estate listings) and acquisitions (Zillow just bought Postlets), and the general administration, including legal and accounting expenses related to being a public company.

From the filing, “If we fail to continue to grow our revenue and overall business and to manage our expenses, we may continue to incur significant losses in the future and not be able to achieve or maintain profitability.”

Marketplace revenues grew from $3.9 million in 2009 to $13.2 million (increase of 238 percent), and represented 43% of total revenues in 2010 compared to 22% of total revenues in 2009. Zillow says the increase in marketplace revenues was primarily due to the growth in the number of subscribers in its Premier Agent program from 2,764 as of December 31, 2009 to 8,102 as of December 31, 2010, which is an increase of 193%. Marketplace revenues also increased as Zillow began to charge mortgage lenders for participation in the mortgage Marketplace in January 2010.

Thanks to more traffic, display revenues increased from $13.6 million in 2009 to $17.2 million in 2010 and represented 57% of total revenues in 2010 compared to 78% of total revenues in 2009.

Source: Real Estate Listings Site Zillow Files For $51.75 Million IPO

Group Buying Site Groupalia Raises $15M, Expects A Turnover Of $150M In 2011

April 8th, 2011 04:17 admin View Comments

More investors pouring more money into Spanish group buying site Groupalia as the company just announced that it has landed $15 million from current shareholders and new backers like General Atlantic, Insight Venture Partners and Index Ventures. The round follows a 5 million euros investment secured back in October 2010 and a 2.5 million euros round secured back in May 2010.

Groupalia is a site that features a daily deal, in the form of a discount coupon, on the best things to do, see, eat and buy in the cities where it is present. The company expects a turnover of $150 million in 2011, which would be 16 times the turnover booked last year.

The company says the extra capital will be used to consolidate its position in the countries where it is already present and explore strategic partnerships or acquisitions.

Groupalia claims 6 million users, 400 employees and a presence in eight countries: Spain, Italy, Brazil, Mexico, Argentina, Colombia, Chile and Peru. Spectacular numbers, if you stop and think about it – the company was founded less than a year ago (May 2010).

Source: Group Buying Site Groupalia Raises $15M, Expects A Turnover Of $150M In 2011