{"id":43466,"date":"2023-10-20T15:28:48","date_gmt":"2023-10-20T15:28:48","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/taxi-booking-app-gocatch-weighs-up-offers-from-potential-buyers-startupsmart\/"},"modified":"2023-10-20T15:28:48","modified_gmt":"2023-10-20T15:28:48","slug":"taxi-booking-app-gocatch-weighs-up-offers-from-potential-buyers-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/taxi-booking-app-gocatch-weighs-up-offers-from-potential-buyers-startupsmart\/","title":{"rendered":"Taxi booking app goCatch weighs up offers from potential buyers – StartupSmart"},"content":{"rendered":"
Taxi booking app goCatch has appointed Pitt Capital Partners to advise them about a potential buy-out following the startup\u2019s $5 million raise last year.<\/p>\n
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Backed by Paul Bassat and James Packer, goCatch allows users to book nearby taxis and track their progress via GPS.<\/p>\n
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The Australian Financial Review<\/i> <\/i>reported Monday morning that the startup is hunting for a $20 million offer. However, speaking to StartupSmart<\/i> this morning, founder Ned Moorefield said he is not planning to sell the startup any time soon.<\/p>\n
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Instead, he says the appointment of an independent advisory firm was in response to a number of external enquiries.<\/p>\n
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\u201cIt is correct to say we have appointed Pitt Capital Partners as the company\u2019s adviser,\u201d Moorfield says.<\/p>\n
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\u201cWe\u2019ve done that due to a number of inbound enquiries we\u2019ve received in terms of investment or a potential acquisition. But we\u2019re not actively seeking a sale and certainly don\u2019t have any urge to seek that.\u201d<\/p>\n
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Following the $5.4 million raise in October 2014 the startup was valued at $19 million. Moorfield says if any deal is made in the near future it will be north of $20 million.<\/p>\n
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\u201cWe have a clear path for the business, but we will continue discussions with these parties who have approached us,\u201d he says.<\/p>\n
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\u201cThe valuation at the last funding round was just short of $20 million post-money. We\u2019ve achieved strong traction since that last transaction and any transaction is going to be given at a much higher value than that.\u201d<\/p>\n
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