Renault Purchases Tech Startup Karhoo

Posted on January 13, 2017

Photo via Wikimedia Commons user Bevopt
Renault Saw 'Sudden Opportunity' To Acquire Failed London Taxi Startup Karhoo: Renault's financial services division, the automotive giant paid an undisclosed fee — believed to be in the region of $16 million — for the assets of Karhoo, which went into administration last November, according to an announcement on the website of RCI Bank and Services, . Business Insider article here

Karhoo Rides Again — Nissan/Renault Buys Failed On-Demand Ride Startup: The app will be relaunched by Boris Pilichowski and Nicolas Andine as co-CEOs, with full financial backing from RCI Bank and Services, the financial services division of the car giant Renault. Pilichowski and Andine had been running Karhoo just before it went bankrupt, taking over from founder Daniel Ishag. Tech Crunch article here

Photo via Wikimedia Commons user Karhoo
Troubled Ride-Hailing Startup Karhoo Bought by Renault Unit: RCI Banque SA, an automotive finance group owned by Renault, said it beat out 40 bidders for Karhoo and will revive the service, a smartphone app for comparing prices from various non-Uber taxi services. Bloomberg Technology article here

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Related Topics: apps, business deals, Karhoo, mergers & acquisitions, mobile applications, Nissan, on-demand service, startup, taxis

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