German Disrupter Flixmobility Acquires American Icon Greyhound
There’s hardly a more iconic brand in the United States than Greyhound, and although the bus company had been foreign-owned since 2017, the news that it was being bought for around USD 172 million by a relatively young Germany company still raised eyebrows. So who is Flixmobility?
Flixmobility, which also has train and rental car services, is best know for its green-colored Flixbus vehicle and carried more than 60 million passengers worldwide before the onset of the coronavirus pandemic.
Founded in 2011, it started out with three routes in Bavaria but quickly expanded throughout Europe with a series of acquisitions. In 2018, it reported revenues of a half billion euros. FlixBus’ calling cards are both economy and ecology.
“Like no other company before, FlixBus disrupted the mobility market by democratizing long-distance bus rides at affordable rates while making sure every trip is not only sustainable but convenient,” says Anne Christin Braun, marketing lead at the Nuremberg Tech Incubator, where FlixBus maintains an office. Nuremberg Tech Incubator is part of the Digital Hub Initiative, a countrywide technology ecosystem aiming to foster collaborations of German and International start-ups, corporates and research to develop future technological innovations. “Conducting hundreds of thousands of rides every day and connecting close to 200 destinations in the US alone, Greyhound was an only logical next step for Flixmobility.”
Those are qualities Flixmobility thinks will translate well to the other side of the Atlantic.
“Consumers across North America are increasingly seeking affordable, comfortable, smart and sustainable mobility solutions,” said Flixmobility founder and CEO André Schwämmlein in a statement when the acquisition was announced. “A compelling offering will draw significantly more travelers away from private cars to shared intercity bus mobility. Together, FlixBus and Greyhound will be better able to meet this increased demand.”