🚗 LULA Acquires Zeelo’s South African Subsidiary 🚗

LULA, a ride-sharing platform for office workers, has acquired the South African arm of Zeelo, a US-based staff bus-sharing startup. Zeelo, which launched in South Africa in 2019 and facilitated over 2 million rides annually, is refocusing on its US, UK, and Ireland markets. This cash-only deal, with undisclosed specifics, allows LULA to use Zeelo’s network of 18,000 riders to expand its reach across South Africa.

Key Highlights:

• Transportation Costs: South Africans face high work-related transportation expenses, with car users spending an average of R2,180 ($121) and taxi users R960 ($53) monthly.
• Market Expansion: Founded in 2018, LULA operates in five cities, serving over 380 companies with 700,000 completed rides and partnering with over 1,000 drivers and shuttle operators.
• Financial Growth: The acquisition will make LULA cashflow positive, enabling a strategic and sustainable scaling approach.
• Zeelo’s Transition: Zeelo’s founder and CEO, Sam Ryan, expressed support for transitioning customers and suppliers to the LULA platform.

Conclusion:With this acquisition, LULA aims to reduce transportation costs for South African workers and capture a larger market share, while Zeelo focuses on its core markets abroad.

This strategic acquisition positions LULA as a key player in South Africa’s ride-sharing market, promising enhanced services and expanded reach for both corporate clients and everyday commuters.

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