SAN FRANCISCO — iCARS, a B2B mobile app and web platform that connects corporate clients to professional, licensed chauffeurs has purchased the assets of Limos.com; the leading transportation provider network and marketplace that connects consumers and corporations via web and mobile with professional chauffeured rides.
The deal closed on January 1st, and integration of iCARS cutting edge technology and Limos.com vast affiliate network has begun with completion set for February. This will result in a single online interface that offers on-demand, near demand, and future reservation services. The amount of the purchase wasn’t released.
Limos.com has raised over $20 million in equity and has close to three million visitors per year, plus 4.5 million users in its database. Gary Bauer, Chairman and CEO forecasts the venture will generate $65 million to $70 million in earnings for 2017.
“All leads from iCARS and Limos.com will be pushed to partner operators,” says Bauer.
The combined iCARS and Limos.com will be now be able to serve more business travelers and leisure clients with executive car service backed by the duty of care that iCARS is built on. Bauer said, “We’re picking up major corporate accounts to drive business to small and medium size operators.”
“You don’t have to be one of the top five operators to get work from these large companies,” said Gary Bauer. In addition, this acquisition provides the corporate client and everyday consumer a more secure and legal alternative to the transportation network companies (TNCs).
“For the 1,000 operators already signed up with Limos.com, it’s business as usual,” Bauer said, “except they will have more opportunities for leads coming from iCARS, which before the merger, had access to a network of 6,000 limousine fleet vehicles.”
iCARS President Edward Silver will oversee the combined operations of iCARS and Limos.com from its San Francisco-based headquarters.
Silver says, “For our major Travel Management Companies and corporate accounts around the globe, this acquisition means we can service their needs anywhere immediately. We work with corporate accounts of all sizes including several that do 75,000 to 100,000 trips per year. I’ve spoken to many of them and all are excited about the combined iCARS and Limos.com venture.”
Silver says, “We welcome the limos.com team to our extended family and look forward to serving the marketplace with this new B2B Global Network.”