Robert Bosch acquires ridesharing startup Splitting Fares Inc.
Robert Bosch, the world’s largest auto supplier announced it is entering the ridesharing business through the acquisition of Splitting Fares Inc. (SPLT), a U.S. startup based in Detroit. SPLT operates a platform that allows companies, universities, and municipal authorities to offer their workforces ridesharing services.
The B2B approach is designed especially for commuters. SPLT uses an app to connect people who share the same route to their place of work or study.
An algorithm finds the best composition for the ride-share, and computes the fastest route. The aim is to reduce congestion and make the daily commute more relaxed.
SPLT was founded in 2015. Some 140,000 users in the United States, Mexico, and Germany currently take advantage of the service. It has been agreed that the purchase price will not be disclosed.
“With SPLT, we are extending our portfolio in the growth area of mobility services,” said Dr. Markus Heyn, member of the Bosch board of management.