As it is sadly often the case, someone is rushing to announce that 99 Taxi raised a “sizable amount” or “undisclosed” round from Tiger Global and it gets amplified through the maze of interconnected social networks and firehose aggregators. It is so amplified that no one bothers to check public sources which, we agree, the SEC is making somewhat harder to deal with than to hook up to a firehose for trend analysis. Since all blog content on wordpress is made available to the masses by firehose API powerhouse GNIP, we are posting this synopsis in hope it gets amplified and all the hooked-up and hitech (free and expensive) VC databases will get the record straight.
|XDATA – February 4th 2015|
|99 Taxis placed $15 million worth of securities as part of a non-brokered equity financing round. The placement, which started almost two weeks ago, lured a total of twelve subscribers. No offering was previously initiated by the company under a registration exemption with the SEC.
The company is registered in a foreign jurisdiction indicating the amount offered reported may only represent the portion of the placement earmarked by the company for US investors.
|99 Taxis develops and markets an eHailing mobile application to get a taxis in São Paulo as well as other cities in Brazil and pay for the ride using PayPal, a debit or credit card. Financial backers include Tiger Global Management, Qualcomm Ventures, and Monashees Capital.|
|Paulo Veras (CEO) leads the Grand Cayman Cayman Islands based company which was registered in 2013. 99 Taxis elected to keep its revenues undisclosed.
The executive team includes Renato Freitas.
The board of directors includes Ariel Lambrecht, Carlo Dapuzzo and Carlos Kokron.
Company: 99 Taxis
Industry: Other Travel
Amount offered: $15 million
Amount placed: $15 million
SEC filing: Source
First sale: 01-23-2015
Data as of: 02-04-2015