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How Moovit went from opportunity to a $900M exit in 8 years

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In May 2020, Intel announced its purchase of Moovit, a mobility as a service (MaaS) solutions company known for an app that stitched together GPS, traffic, weather, crime and other factors to help mass transit riders reduce their travel times, along with time and worry.

According to a release, Intel believes combining Moovit’s data repository with the autonomous vehicle solution stack for its Mobileye subsidiary will strengthen advanced driver-assistance systems (ADAS) and help create a combined $230 billion total addressable market for data, MaaS and ADAS .

Before he was a member of Niantic’s executive team, private investor Omar Téllez was president of Moovit for the six years leading up to its acquisition. In this guest post for Extra Crunch, he offers a look inside Moovit’s early growth strategy, its efforts to achieve product-market fit and explains how rapid growth in Latin America sparked the company’s rapid ascent.


In late 2011, Uri Levine, a good friend from Silicon Valley and founder of Waze, asked me to visit Israel to meet Nir Erez and Roy Bick, two entrepreneurs who had launched an application they had called “the Waze of public transportation.”

By then, Waze was already in conversations to be sold (Google would finally buy it for $1.1 billion) and Uri was thinking about his next step. He was on the board of directors of Moovit (then called Tranzmate) and thought they could use a lot of help to grow and expand internationally, following Waze’s path.

At the time, I was part of Synchronoss Technologies’ management team. After Goldman Sachs and Deutsche Bank took us public in 2006, AT&T and Apple presented us with an idea that would change the world. It was so innovative and secret that we had to sign NDAs and personal noncompete agreements to work with them. Apple was preparing to launch the first iPhone and needed a system where users could activate devices from the comfort of their homes. As such, Synchronoss’ stock became very attractive to the capital markets and ours became the best public offering of 2006.

After six years with Synchronoss while also making some forays into the field of entrepreneurship, I was ready for another challenge. With that spirit in mind, I got on the plane for Israel.

I will always remember the landing at Ben Gurion airport. After 12 hours traveling from JFK, I was called to the front of the immigration line:

“Hey! The guy in the Moovit T-shirt, please come forward!”

For a second, I thought I was in trouble, but then the immigration officer said, Welcome to Israel! We are proud of our startups and we want the world to know that we are a high-tech powerhouse,” before he returned my passport and said goodbye.

I was completely amazed by his attitude and wondered if I really knew what I was getting into.

At first glance, the numbers seemed very attractive. In 2012, there were roughly seven billion people in the world and only a billion vehicles. Thus, many more people used mass public transport than private and users had to face not only the uncertainty of when a transport would arrive, but also what might happen to them while waiting (e.g., personal safety issues, weather, etc.). Adding more uncertainty: Many people did not know the fastest way to get from point A to point B. As designed, mass public transport was a real nightmare for users.

Uri advised us to “fall in love with the problem and not with the solution,” which is what we tried to do at Moovit. Although Waze had spawned a new transportation paradigm and helped reduce traffic in big cities, mass transit was a much bigger monster that consumed an average of two hours of each day for some people, which adds up to 37 days of each year*!

What would you do if someone told you that in addition to your vacation days, an app could help you find 18 extra days off work next year by cutting your transportation time in half?

* Assumes 261 working days a year, 14 productive hours per day.

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Charge Your Phone Wirelessly With 50% off a Multifunctional LED Lamp

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Best Tech DealsBest Tech DealsThe best tech deals from around the web, updated daily.

White Wireless Charge Lamp | $18 | Amazon | Clip coupon + code ABC88699
Black Wireless Charger Lamp | $20 | Amazon | Promo code ABC88699

When you’re ready to turn in for the night, you don’t want to forget to charge your phone— especially if your mobile device doubles as your alarm clock.

With this wireless charger lamp, you can make this crucial step of your nightly routine even easier by just setting your phone on the wireless charging pad and… well, that’s all there is to it!

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Other functions include multiple lighting modes as well as a sleep timer option for auto shut-off of the light after 30 or 60 minutes.

This lamp can be yours in white for $18 if you clip the coupon on Amazon (it’s below the original $40 price) and add promo code ABC88699 at checkout.

You can snag the black version for $20 using the same code—no coupon though, sorry.

Don’t sleep on this deal! Who knows how long stock or the coupon code will last?

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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