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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kakao Mobility is seeking to acquire Free Now, which ranks first in the European taxi call market.
According to the investment banking (IB) industry on the 15th, Kakao Mobility recently participated in a preliminary bid to acquire Free Now. Founded in Germany in 2009, Prinow is Europe's largest mobility platform with a market share of 83% throughout Europe. Uber-type ride-sharing market share other than taxis is 19% after Uber.
BMW Group and Mercedes-Benz Group each own 50% of Free Now. The sale target is an 80% stake in Prinow, and the amount Kakao will offer is known to be around 200 billion won.
In addition to Kakao Mobility, many global companies that provide similar services such as Uber, Ola, and GetTaxi are fiercely competing behind the scenes for the acquisition.
In March, Kakao Mobility acquired Split, a British mobility brokerage platform, and entered the European market. Split, established in 2015, is a platform that connects with major global platforms such as Uber, Grab, Karim, Kabypie, Trip.com and Booking Holdings to connect consumers.
Kakao Mobility's move is interpreted as an attempt to speed up its global market entry with the European market as a bridgehead by acquiring Free Now following Split.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
