Yes, we’re talking ride-sharing again. But this time, we’re talking about a massive company that’s somehow managed to drive under the radar here in the States.
We’re talking French ride-sharing giant, BlaBlaCar.
According to TechCrunch, BlaBlaCar is acquiring Less, a less than 2-year-old, Paris-based carpooling company that focuses on urban rides, and pays drivers on a per-kilometer rate.
The size of the deal wasn’t disclosed, but Less raised $19m before its official launch last December, so it probably wasn’t chump change.
Then again, BlaBlaCar’s pockets are pretty deep…
Founded in 2006, today BlaBlaCar claims 60m members in 22 countries — they’re also one of France’s most heavily funded startups.
So far, the company has brought in more than $330m from backers like Accel and Index Ventures. Not to mention their $200m Series D in 2015 still stands as the highest single funding round by a French startup, bringing them to a $1.6B valuation.
BlaBlaCar has made 7 other acquisitions in its attempt to prove itself as a bona fide rideshare big fish, including its closest competitor, Carpooling.
The company will discontinue the Less brand but bring the crew on as experts in the short-distance urban driving market (BlaBla currently specializes in long distances), and is likely to adopt Less’s per-kilometer payment model for short-distance drivers.
Still better than the OG ridesharer’s payment model: Gas, grass, or a*s.