London cab firm Addison Lee embarks on global expansion with New York launch
London cab firm Addison Lee is expanding its services to the hotly contested taxi battleground of New York.
The expansion, its first outside London, will give the firm access to the second biggest cab market in the world after London's, which is worth an estimated £2.2bn.
The private equity-owned firm said the expansion was spurred by demand from existing corporate customers who also operate in New York, including blue chip firms and investment banks, as well as its growth in London.
“It seemed like a natural step for us as Europe's largest minicab firm. We already have a great number of existing corporate clients in New York, so demand is already there and it’s an opportunity with real scale. The extension of the Addison Lee business across the Atlantic is a fundamental part of a wider global roll out that aims to create a truly integrated global network of ground transport providers,” said chief executive Liam Griffin.
The cab company is potentially eyeing up Paris as a third location as it ramps up growth after US-based private equity firm Carlyle Group, its owner since 2013, mulled a sale last year.
New Yorkers will now be able to book an Addison Lee in New York City and the tri-state area using the company’s app or website, or over the phone.
The New York taxi market is a hotly contested one, dominated by Uber, Lyft, Sidecar and, of course, the infamous yellow cab. British startup taxi app Hailo withdrew from the US late last year as a result of the intense competition.