Bosch enters ridesharing business
Bosch announced that it is entering the ridesharing business with 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 focused on 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 U.S., Mexico, and Germany currently take advantage of the service. The two companies 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.
SPLT allows companies, universities, or municipal authorities to enable access to the SPLT platform for their employees, who then download the SPLT app, register, and look for or offer a rideshare. Bookings can be made on the spur of the moment or in advance. Arrival times are displayed in real time, and costs are shared among colleagues and charged online. The B2B service is intended for users who travel the same route each day. One advantage of this is that rides are shared by colleagues, which means users never have to get in the car with complete strangers. As a side benefit, such rideshares encourage communication and offer a chance to network. Company buses can also be integrated into the app, and in this way be used more flexibly and efficiently. SPLT will remain an independent entity within the Bosch Group and be run as a wholly owned subsidiary.