Gett founder and CEO Shahar Waiser Photo by John Phillips/Getty Images for TechCrunch

According to the Financial Times, Gett – an Israeli based ride-hailing startup valued at $1.4 billion from a last year round – is planning an IPO this year, potentially joining Lyft and Uber which are expected to also go public this year. According to FT, Gett is planning a listing in either Israel or on the London Stock Exchange.

Citing CEO Dave Waiser, the FT reports Gett considered a listing after seeing that ride-hailing rival Lyft planned to go public, despite growing losses. “We will see how Lyft goes, we believe there’s a lot of public capital waiting for the [technology] darlings [Uber and Lyft], but we also believe that our business model makes sense,” Waiser said.

Volkswagen CEO Herbert Diess. Volkswagen is a strategic partner and has invested $300 million in Gett. image: Volkswagen

Citing a monthly profit chart, the Financial Times says Gett’s global business lost $3.5 million in December, but expects to ink more than $1 million in Profit this December. It also says its more mature European business inked $2.4 million in losses but is projected to record a higher profit by the end of this year. Gett plans to use funds from an IPO to invest in existing networks, it noted.

Backed by the likes of Volkswagen, Da Vinci Vapital, MCI Capital SA, Kreos Capital and Vostok New Ventures, Gett has raised nearly $700 million in total, according to Crunchbase data.

More on IPO:

• Investors Reportedly Call For A Do-Away With Lyft’s Dual-Class Share Plan
• PagerDuty Files For IPO
• Jumia Files For IPO
• Pinterest Has Confidentially Filed For IPO : WSJ

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