{"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":"
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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

 <\/p>\n

\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

 <\/p>\n

When asked if goCatch would be courting Lyft given an Australian expansion is on the cards<\/a>, Moorfield declined to comment.<\/p>\n

 <\/p>\n

The highly-regulated Australian taxi industry is worth around $5.4 billion.<\/p>\n

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Do you know more on this story or have a tip of your own? Raising capital or launching a startup?<\/i> . Follow StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i>  <\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Taxi booking app goCatch has appointed Pitt Capital Partners to advise them about a potential buy-out following the startup\u2019s $5<\/p>\n","protected":false},"author":2,"featured_media":59780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,21,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43466"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=43466"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/43466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59780"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=43466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=43466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=43466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}