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Volkswagen invests $300 million In Gett

Gett, one of Uber’s biggest rivals in Europe, has now raised $520 million (compared to Uber’s $8.4 billion and Lyft’s $1.4 billion). 

Ridesharing threatens to make buying a car less necessary, and Volkswagen is not the only car manufacturer cozying up to startups that facilitate it. General Motors made a $500 million strategic investment in Lyft in January, and Ford is dipping its toes into the waters as well. SK