Published on February 19th, 2016 | by Subhash Nair0
Mayflower Acme Tours Enters Car Sharing Service with GoCar Mobility
Incumbent travel and car rental company, Mayflower Acme Tours Sdn Bhd (“Mayflower”), a subsidiary of Warisan TC Holdings Berhad, announced the acquisition of a majority stake in technology start‐up GoCar Mobility Sdn Bhd (“GoCar”), a car sharing service which provides an affordable short‐term transportation solution. This new acquisition is part of Mayflower’s strategy to expand its presence in the mobility market, search for new mobility solution opportunities, and to allow Mayflower to strengthen its leadership in the car service/livery business.
Founded in March 2015, GoCar is a startup that allows members to rent cars by the hour or day, through a self‐service platform via a website or mobile app. Since its launch, GoCar has received over 5,000 hours of bookings for its cars located in Cyberjaya, Mont Kiara, Mid Valley, and Bangsar.
In addition to the acquisition, GoCar has been awarded the CIP 500 grant by Cradle Fund Sdn Bhd. The grant, which has the value of RM 500,000, will enable the car sharing service to further expand into new markets, scale the team, and boost its marketing reach.
Mayflower sees growth opportunity in this combined venture. It represents greater utilization of its fleets, cost reduction to operations, and significant efficiency optimization.
Following the acquisition, GoCar will operate as a subsidiary of Mayflower and will continue to operate under its own name and brand. Key members of the GoCar management team, including Executive Director, TJ Tan will continue to set the overall direction and run the day‐to‐day operations.