OjO Electric announces transaction to acquire Gotcha Mobility

Nov. 20, 2019
The acquisition will help OjO expand its market share of the rideshare industry in North America.

OjO Electric Corp. (OjO) announced it has acquired Gotcha Mobility LLC (Gotcha).

The Acquisition is the first step in OjO’s accretive capital deployment and consolidation strategy in the micro-mobility sector. The combined OjO-Gotcha footprint and pipeline provide a near-term growth opportunity and positions OjO as an industry consolidator. With a planned 2020 base case of deploying 25,000 mobility units across 80 locations in the company’s rideshare and on-demand delivery businesses, OjO is building the scale and partnership-oriented market approach to play a role in the sector.

“We’re excited to share the news of our acquisition of Gotcha. We did extensive homework to find the right partner to expand our presence while joining our mission to change rideshare for good,” said Max Smith, CEO of OjO. “The exclusive nature of Gotcha’s expansive portfolio of long-term contracts is particularly attractive. The markets where we have experienced the best unit economics are those that have taken the approach of limiting permits to a handful of operators, as compared to those where scooter deployments have been more of a free-for-all. Gotcha’s strong corporate culture and experienced team make the company a perfect match for OjO.”

Founded in 2009 by CEO Sean Flood, Gotcha has established relationships in the mobility sector. The company has more than 10 years of operations experience and 100 shared e-mobility partners across the U.S. Gotcha was recognized as one of America’s fastest-growing private companies in 2018 and 2019 on the Inc. 5000 list. It was also a finalist on Fast Company's 2019 World Changing Ideas Awards in the Health and Wellness category for providing students with sustainable micro-transit products that encourage healthy lifestyles.

“We are excited about Gotcha’s next chapter as we merge with OjO,” Flood said. “Our shared visions and goals make this a great fit. We look forward to continued growth as we lead the micro-transit industry together. Gotcha’s experience, suite of products and exclusive contract base—combined with the OjO’s products and positive unit economics—will build a powerful team to grow together.”