Daimler acquires majority stake in France based Chauffeur Prive

German carmaker Daimler said that Daimler Mobility Services has acquired a majority stake in France based Chauffeur Prive, a French app that provides that provides ride-hailing services similar to Uber. According to the report in Tech.eu the automaker also intends to complete its acquisition of Chauffeur Prive by acquiring the remaining stakes in the startup by 2019. Both the parties have agreed not to disclose any financial details regarding the deal.

Chauffeur Prive, founded in 2011 has 1.5 million users and 18,000 drivers operating in Lyon, Paris, and Cote d'Azur. The startup raised €5 million in 2015 from Xange and CM-CIC Capital Prive.

Yan Hascoet, CEO, Chauffeur Prive said, "Daimler is one of the strongest and most future-oriented partners in the market. We share the same visions for the issue of new and advanced mobility concepts especially in urban areas."

Bodo Uebber, who oversees financial services at Daimler, said, "Daimler, with its financial strength, is ideally poised to continue its transformation from a pure car manufacturer to a comprehensive mobility services company as we pave the way to autonomous driving."