GoToGlobal reverse merger, Uber’s good financial report, industry is hiring and CleverShuttle explained

DRT / Microtransit 🚐

CleverShuttle and ioki jointly launched a new service in Aschaffenburg, Germany. Remember, both companies are owned by DB. From the PR: “CleverShuttle is responsible for operations, ioki provides the intelligent platform technology for transport”. Exclamation mark moment ❗️

Back in June 2020 DB announced that it is cutting 850 of 1,100 jobs in CleverShuttle. Yes, obviously Covid was the immediate reason, but it was clear that CleverShuttle would not be able to again compete in the DRT tech space after the cut. Since then the company has kept operating - and now it is clear why: CleverShuttle is a transportation company, managing drivers and specialising in electric vehicle operations; ioki does the tech; together they allow DB the ability to offer an holistic solution. 

Shotl delivers Lisbon DRT system, working with Carris (bus operator).  

TaaS + SaaS + Bus 🚌

Things are heating up in LATAM - SWVL is looking for a new Travel (Intercity) GM in Argentina. Buser and FlixBus have so far focused on Brazil, so no immediate clash, but who knows… SWVL has 114 open jobs so take a look dear readers - you just might find a career with SWVL. Also, Careem is looking to recruit 200 employees as it expands into ‘Super App’ and is launching food delivery in Qatar. 

Some more on Buser which just got banned from the state of Bahia (Brazil) with the court ruling personal liability on directors to comply (this is in addition to Buser being banned from Ubatuba in last week’s news). What is going on? Long read on the legal situation in Brazil, which brings back questions that came up when Uber entered many markets. Unlike back then, now politicians and incumbent actors are knowledgeable and ready, so expect a fiercer fight from traditional players. 

GoTo Global (Shared Mobility) is going public via reverse merger, planned for late April at TASE (Tel Aviv Stock Exchange). GoTo Global has operations in Israel, Spain, Malta and Germany. The company will use funds from the reverse merger, assets sold and future private money to expand more into Germany and into B2B activity.  

The story of Chilean Kupos (previously known as PasajeBus). Starting in 2014, PasajeBus offered consumers online search, compare and purchase of bus tickets and offered coach operators a SaaS inventory management solution. Fast forward to 2020, the company works with 90% of the industry and sells 20K tickets a day. Pandemic was good, albeit less total sales for the bus industry, most sales moved online, where PasajeBus solution was needed. In 2021 the company rebranded as Kupos and invested heavily in marketing - and developed a digital wallet and car sharing solution. Now for 2022, they target $100M in (gross?) revenue. 

FlixBus is working with Cammeo to provide last mile solutions on its intercity trips and is bringing back their international lines. BusUp arrives in Paraná, Brazil. Urbvan arrives to Puebla, Mexico. 

Ride-hailing 🚘

FREENOW is the largest multimodal app in Europe. In 2022 the company plans on further European expansion, increasing multimodal options and investing in its corporate mobility solution. In 2021 the company had 54 million users with 27% of users using more than one vehicle type; it pledges to be ‘net-zero’ by 2030; and definitely is looking to become a super-app. It says so on page 3 and in the CEO’s summary. 

Uber shares rose after the company released its Q4 financials. Some highlights: Revenue $5.8bn; delivery revenue increased 78% YoY and reached adjusted-EBITDA profitability for the first time; ride-hailing is 16% off from pre-pandemic; global monthly active users 118M and active driver count 4.4M; Adjusted-EBITDA was $86M. For More: FT, TechCrunch, NY Times. 

Lyft report wasn't that successful. The company did continue post-pandemic revenue growth (as I think is the bare minimum) but active rider numbers weren’t high as expected. 

Also Uber adding electric vehicles to Mexico City; using alerts to remind people of seatbelts; supporting the Mayor of London’s proposal for more road charges, while increasing its zero-emission zone.  

Bolt is planning to add 200,000 drivers in Africa this year. The company is seeing increasing demand in the continent in the 7 markets it operates with 700,000 drivers. Financing cars is a big barrier for drivers, as chip shortage and inflation have contributed to higher car prices, so Bolt is launching schemes to help drivers buy vehicles, with a focus on electric. Also Bolt had it’s Glasgow application denied due to technicalities; but arrived in Brussels. 

Yandex.Taxi will start showing trip prices to users In Novosibirsk, Russia. Colours - green, yellow, orange or red - to show car availability, road and weather conditions - as they reflect on pricing. The article also says that Didi was supposed to enter the market after advertising for drivers there, but have changed course and have backed away from entering the city. 

Gojek launches GoCar premium. That’s ride-hailing with better cars at higher prices. 

Ola wants to add NBFC (non-banking financial companies) and insurance to its app on the way to become a super-app. The company is looking for an acquisition that will get it there. Ola already has a post-paid option, as well as vehicle financing. 

In Pakistan, traditional rickshaws (love that vehicle) are losing business to cheaper online motorbike services offered by Bykea and Uber/Careem; they are also being squeezed by the LNG and CNG shortage. 

EV in the stock market ⚡️🚎

Arrival stock is down 47% in January and is 87% down from its June high. Ouch. I have to say I like the concept of micro-factories and flexible design, but it turns out it is harder in reality than on paper. 

Amazon stock jumped almost 20% after Q4/21 results; it’s investment in Rivian was responsible for 82% (!) of Amazon's Q4 $14.3 billion of total net income. Since the end of 2021 Rivian has fallen ±40%, and is now 68% down from its November all-time high. Ouch2. A New York Times long(ish) read on how Rivian is losing its shine. 

Deliveries 🧺🍴

9 trends that will shaper grocery retail in 2022: (1) conscious environmental consumers; (2) more q-delivery; (3) more automation; (4) better use of consumer data; (5) fresher better prepared meals; (6) loyalty schemes; (7) expansion of retail media networks; (8) more premium products; and (9) going into B2B. Rotterdam follows Amsterdam and bans opening of new dark warehouses. I think that is trend #10.

Saudi Nana raises $50M to expand dark store coverage and reach 150 locations by the end of 2022.  Gobble raises $1.3M to feed university students.  DoorDash will start lending money to restaurants and start delivering flowers. 

DeliveryHero dropped ±30% after releasing 2022 earning guidance - the company expects core profit margin to be between -1% to -1.2% (vs. -2.2% in 2021). The CEO tweeted an apology, but strategy is to remain the same. 

Autonomous 🤖

Unusual story: Navya is withdrawing from Gap (France). Launched last September, the driverless electric shuttle made it through a whole 1 day before breaking down and never coming back. In other news, Navya reported 2021 revenue of €10.2M; sold 19 shuttles and has a user base of 200.  

AutoX says it has 1,000 autonomous robo-taxis in China. SWAT launched Singapore's first autonomous transport revenue service. TuSimple partners with freight rail Union Pacific to use its automated trucking service to haul cargo in Arizona. 

In other news 📰

Volocopter secures $1bn in financing, which will come into effect once Volocopter earns civil aviation certifications to operate. Cazoo raises $630M by selling shares and grows its balance sheet to $900M in cash. In 2021 the company sold ±49,500 units in ±£665M revenues. 300% YoY. Zenobe secured £241 million in debt. The company is using the money to service and finance 430 new e-buses, accelerating UK&I EV fleet sector. Swings (Korean micromobility) raises $24M to expend to Japan. 

Amazon Alexa is being offered by Jaguar Land Rover; a software update will offer Alexa on JLR’s information system to subscription members.  Hyundai car-sharing pilot in the Netherlands. Joby Aviation plans to offer an air taxi service in South Korea in partnership with SK Telecom. 

Long read on the hidden life of a lorry driver.