Teamwork makes the dream work. Sometimes, you need a little help from your friends to ensure your survivability in the long run. That's why Daimler's Mytaxi service is joining forces with another cab-hailing app, Hailo, to better bring the fight to Uber, which has grown positively monstrous in the last few years.
One of Uber's biggest problems is the taxi industry. Long stymied by complicated and expensive registration processes, cabbies are none too happy to see their jobs disappear to folks that bypassed most of those hurdles. Hailo and Mytaxi both involve hailing taxis, rather than ordinary passenger cars, so the merger might actually see some support from this long-standing profession.
Daimler, the parent company of both Mytaxi and Mercedes-Benz, will own 60 percent of the new company, with Hailo holding onto the remaining 40 percent, Automotive News Europe reports. The financial terms of this merger have not been discussed publicly.
If you want to go up against Uber, you'd better be big, and this merger certainly will be. Automotive News cites both companies as saying that this new merger will include some 70 million passengers and 100,000 registered taxis across nine European countries. Hailo had roots in the US at one point, as well, but Mytaxi is not currently operating here.