Gett, which helps companies organize their ride-hailing, taxi, and limousine booking options, is going public via a SPAC merger at a ~$1.1B valuation
Company joins with ride-hailing operators to organize transportation options into one platform for corporate customers Source: Gett .
Context & Ripple Effects
Gett has spent years circling the public markets without landing: it planned an IPO on the London Stock Exchange or in Israel back in 2019 with an eye on Q1 2020, then raised another $100M in mid-2020 to bring total funding to $750M. The SPAC route finally gets it there — but at roughly $1.1B, well below the $1.5B valuation from its 2019 raise and the ~$1.4B VW-led round before that.
The down-round exit matters because Gett chose a different lane than Uber or Lyft: instead of competing head-on for consumers, it aggregates ride-hailing, taxi, and limousine supply into one booking platform sold to corporate customers, after consolidating rivals like Juno in 2017. Its listing follows Grab's much larger SPAC debut on NASDAQ, part of a wave of ride-hailing players reaching liquidity through blank-check mergers rather than traditional IPOs.
First-order effects
- Gett's private investors — including Volkswagen, which led its 2018 round — are looking at a mark-down from the $1.4–1.5B valuations of 2018–2019 to ~$1.1B at listing.
- The company gains public-market currency after repeated missed IPO targets, letting it fund its B2B aggregation platform without another private raise.
Second-order effects
- Corporate travel buyers get a publicly accountable alternative to managing Uber, Lyft, taxi, and limo vendors separately, pressuring consumer-first ride-hailing firms to take the corporate procurement segment more seriously.
- A sub-peak SPAC valuation makes Gett a cautionary data point for other late-stage mobility startups weighing public listings versus staying private at higher paper marks.
Third-order effects
- If Gett's trajectory holds as the pattern, the ride-hailing sector splits structurally into consumer-scale giants and niche B2B aggregators whose exits come at discounted valuations — consolidation like the Juno deal being the survival mechanism.
- SPACs cement their role as the fallback liquidity path for companies that miss traditional IPO windows, trading certainty of listing for lower headline valuations.
The trend: Ride-hailing companies that cannot match Uber-scale consumer networks are exiting through SPACs at marked-down valuations, validating the B2B aggregation niche while repricing what late-stage mobility assets are actually worth.