BMW, Daimler ride-hailing venture steps up Uber challenge

FreeNow, the ride-hailing venture owned by Daimler and BMW, expects to double revenue this year and next in a fresh challenge to Uber in Europe and Latin America.

FreeNow’s so-called gross merchandise volume, which mirrors revenue, is forecast to reach about 2.4 billion euros ($2.7 billion) in 2019, CEO Marc Berg said in an interview.

“We know it is aggressive and really ambitious, but we want to double our revenue again next year while further improving our profitability,” Berg said.

Half of the 130 cities in Europe and Latin America where the company that was previously named MyTaxi currently operates in are already profitable, he said.