Tuesday, February 05, 2013

Richard Branson joins investment in Hailo

Hailo's ten city e-hail taxi app network, which include @HailoToronto, Chicago, Boston, Dublin and London, plans to grow its global market to every major city in the world with the help of over $30 million in new investment. Their first new markets planned are New York City and Tokyo. The smartphone taxi hailing app company has sales of over $100 million, carried over 2.5 million passengers and makes it easy to get a taxi, monitor its path to your location and pay the fare - using existing fleets of taxicabs and their drivers. “HAILO puts ten thousand taxis in your pocket. Games and music made smartphones fun. Maps made them useful. HAILO will make them indispensable. Get ready to take back control of your life,” NYC-based CEO and Founder Jay Bregman states."

Hailo has raised over $50 million from investors, including the recent addition from venture capitalist Union Square Ventures, Virgin Group founder Richard Branson and Japanese telco KDDI. The influx of $30 million in capital was followed with the addition of Tom Barr as the new President and COO USA (Tom was formerly  a Starbucks VP; Head of Coffee Business), Kiyotaka Fujii (former head of LVMH) will be President, Japan and Asia Pacific as well as serving on the Board of Directors and Colm O'Cuilleanain President, Europe, Middle East and Asia. Union Squares Ventures Opportunity Fund Partner John Buttrick also joins the Hailo Board.

The new investments were led by Union Square Ventures who were also the first institutional investors in the social and business networks; Twitter, Foursquare and Tumblr.

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