M&A Deal Summary

BitiCar Acquires Ello Rideshare

On November 19, 2019, BitiCar acquired internet software and services company Ello Rideshare for 2M USD

Acquisition Highlights
  • This is BitiCar’s 1st transaction in the Internet Software and Services sector.
  • This is BitiCar’s largest (disclosed) transaction.
  • This is BitiCar’s 1st transaction in the United States.
  • This is BitiCar’s 1st transaction in New Mexico.

M&A Deal Summary
Date 2019-11-19
Target Ello Rideshare
Sector Internet Software and Services
Buyer(s) BitiCar
Deal Type Add-on Acquisition
Deal Value 2M USD

Target

Ello Rideshare

Albuquerque, New Mexico, United States
Ello Rideshare is a cost-effective alternative booking app. Customers can schedule a booking with precise location pins. Ello is the smartest way to get around. One tap and a car come directly to you. Your driver knows exactly where to go and you can pay with your card.

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Buyer(S) 1

Buyer

BitiCar

Las Vegas, Nevada, United States
Category Company
Sector Internet Software and Services
DESCRIPTION

BitiCar is an emerging rideshare company disrupting the rideshare industry by offering better pay and opportunities for drivers, and an activities platform known as Tourin. BitiCar offers low fares and perks for passengers who hail a ride via the rideshare mobile app. BitiCar offers a starting pay of 80 percent of every fare for drivers who qualify. Drivers must be able to pass a background check, have a vehicle, and a valid driver's license. BitiCar drivers will also have the opportunity to earn additional company incentives, such as stock options, all-expense-paid bonus trips and more.

DEAL STATS #
Overall 1 of 1
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Mexico) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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