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  • 07.26.16

London-based Hailo sells 60% of company to Daimler, merges with MyTaxi, and is moving to Germany

The popular London-based on—demand transportation app has sold a 60% stake to Mercedes-Benz owner Daimler, reports TechCrunch. Hailo, which allows users to call a London black cab to them, is used widely in London by those who prefer London’s black cabs over Ubers. As part of the deal, Hailo will merge with another Daimler acquisition, MyTaxi, and work under that brand name from now on. It is hoped the merger will allow the services to better take on ride sharers like Uber. While Hailo is one of the more successful and well-known London tech startups, the news might not be entirely welcomed by the post-Brexit London tech scene. As part of the deal Hailo will be “gradually winding down” everything but a small operations team at its London HQ and moving everything else over to Germany.

[Image: Hailo]MG