Taxi-Hailing App Flywheel Adds A Group Of New Investors

Taxi-Hailing App Flywheel Adds A Group Of New Investors

Cab-hailing startup Flywheel has been gradually expanding its availability in new markets, and also offering new ways for customers to pay. To do so, the company has extended its Series C financing to make room for a group of investors with experience building huge businesses and ties to its new CEO.
The Flywheel app enables users to hail — and now pay for — cabs from their mobile phones in various cities across the country. It partners with local taxi fleets in six markets along the West Coast, including San Francisco, Los Angeles, Seattle, Portland, Sacramento and San Diego.
Last fall, Flywheel announced a $14 million Series C financing round and a new CEO, former Stratify, Snapstick, and Droptalk founder Rakesh Mathur. That brought the total amount Flywheel had raised since being founded to $35 million.

Related Articles

Taxi E-Hail Startup Flywheel Launches In Los Angeles To Take On Uber, Lyft, And SideCar Flywheel Gets $14.8 Million To Double Down On Bringing Tech To The World Of Taxi Drivers Cabulous Rebrands As Flywheel, Plans Major Marketing Push To Bring E-Hail To Cabs Across The US
Flywheel is not disclosing the amount of this investment, but the deal adds new investors who have worked with Mathur before. That includes Riverwood Capital, which is represented by former Flextronics CEO Michael Marks, former Aricent CEO Ash Bhardwaj, and former OpenTable CFO Duncan Robertson, as well as Smart Modular founder Ajay Shah. They join previous investors TCW/Craton, Rockport Capital and Shasta Ventures.
Together, the new investors bring a world of experience in leading companies in competitive markets, and also a few big exits behind them. Marks grew Flextronics from a business with revenues of $93 million to one that brought in $36 billion annually. Bhardwaj’s Aricent was acquired by KKR for $1 billion, while Shah’s Smart Modular was acquired by Solectron for $2 billion.

Comments

Post a Comment

Popular posts from this blog

XDAC

xDAC is a self-governed platform for creating and managing Decentralized Autonomous Companies. The focus of an xDAC platform is not just company creation and token distribution, but establishing standards for decentralized businesses. xDAC is rated 4,5/5 by  ICO Bench ! xDAC is airdropping  up to 255 XDAC  tokens for supporting on social media channels & more tokens for other bounty tasks. 1 XDAC = 0.001 ETH How to join? 1. Go to  airdrop  page  2. Choose whatever task you like to do on: Twitter (10XDAC), Reddit (10 XDAC), Telegram (10XDAC) and Facebook (25 XDAC) 3. Earn up to 200XDAC for writing reviews on social media channels 4. For more tokens, you can complete bounty tasks (up to 6650 XDAC) 5. Submit form with your ETH wallet address and other details 6. You can use referral URL:  https://airdropalert.com/airdrop/982
Read more

14 year old girl sentenced to 40 years for drowning baby

Image
14 year old girl sentenced to 40 years for drowning baby A 14-year-old Dallas girl who drowned a 2 month old baby out of jealousy was sentenced by a juvenile court judge on Friday to 40 years in custody, the maximum punishment available, after admitting to drowning the infant in January, court officials said. The teenager will begin serving her sentence in state custody of the Texas Juvenile Justice Department. A judge will determine whether she is eligible for parole before her 19th birthday or should be transferred to an adult prison. In a juvenile lockup, the girl will have more options than if she had been tried as adult. She will go to school and get counseling. The baby belonged to a family friend who was in jail. Child Protective Services had placed the infant in the home of the teenage girl's mother at the request of the baby's mother, according to police. Investigators said the girl confessed to submerging 2-month-old Justice Hull in a bo...
Read more

LaunchKit Now Helps Developers Keep Track Of Their App Store Sales

Image
LaunchKit Now Helps Developers Keep Track Of Their App Store Sales LaunchKit , which aims to give developers a tool set that makes  launching new apps easier , announced  its newest service this week. The free LaunchKit App Store Sales Reporter helps developers track the sales they generate from Apple’s App Store (just like its name implies). Instead of building a complex dashboard that developers can then obsess about every day, the team decided to use Slack and/or a daily email to keep users up to date on their sales. “The LaunchKit team built Sales Reporter because we wanted a simple way to get iTunes Connect sales data into the place our team communicated all the time: Slack,” LaunchKit founder Brenden Mulligan tells me “After a simple setup, the free tool starts posting sales data into Slack daily.” The service mostly focuses on the ba...
Read more