7 Nov 22
News

US taxi fleet operator zTrip plans IPO with Spree Acquisition

US taxi fleet operator zTrip plans IPO with Spree Acquisition

Mobile-app based taxi fleet operator zTrip in the United States is preparing to launch an IPO on the New York Stock Exchange through a business combination with Spree Acquisition Corp.

To be named WHC Worldwide, Inc. but remain operating under the name zTrip, the publicly traded company is expected to operate under the ticker "ZTRP", Globe Newswire reported, adding that it will be led by zTrip's founder and CEO Bill George.

Founded in January 2019, zTrip is the largest taxi fleet operator in the US, according to information provided by The Transportation Alliance. It operates in 26 cities with more than 2,700 vehicles and over 3,170 contracted drivers on its platform. 

With a pre business combination value of some $251 million, it provides mobility services to approximately 1,080 corporate clients.

Photo: courtesy of zTrip
 

Authored by: Daniel Bland