Ground transport platforms consolidate as iCars acquires assets of Limos.com

Well-funded Limos.com has sold to iCars for an undisclosed fee, just over eight years since it first burst onto the ground transportation scene.

The combined business will be run from the San Francisco, US, headquarters of iCars under president Edward Silver.

The asset sale comes nearly six years after Limos.com’s last capital-raise of $10 million from Austin Ventures – a move that helped push into a string of new cities worldwide, development of tools specifically for corporate travellers and a mobile app.

A switch in CEOs in May 2012 saw ex-Mediaplex exec Ann Hoey take over running of the company until May 2015. She then left for a global role at Nike.

Limos.com claims to be the largest online marketplace for chauffeured vehicles in the world, with a user base of 4.5 million travellers.

iCars chairman and CEO, Gary Bauer, says the deal will help put $65 million-$70 million on the books during 2017.

Silver says:

“For our major Travel Management Companies and corporate accounts around the globe, this acquisition means we can service their needs anywhere immediately.

“We work with corporate accounts of all sizes including several that do 75,000 to 100,000 trips per year.”

Limos.com worked with around 1,000 operators worldwide and iCars had a network of 6,000 fleet vehicles.

As well as the omnipresent Uber in the ground transportation sector, other players include Blacklane and Groundlink, both of which are also heavily backed by investments groups.

https://www.tnooz.com/article/icars-acquires-assets-of-limos-com/


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