Uber Technologies, Inc. (UBER.US) plans to acquire the professional driver booking platform Blacklane, aiming to compete in the global luxury travel market.

Uber Technologies, Inc. (UBER.US) has agreed to acquire the professional driver reservation app Blacklane, the latest move by the company to attract high-end clientele. In a statement on Monday, Uber Technologies, Inc. stated that this acquisition will expand their product line for corporate executives and affluent consumers, which is one of the fastest-growing segments of the company's business. The deal is expected to be completed by the end of 2026, with specific financial terms undisclosed. Competition in the deluxe ride-hailing market is heating up. Just a few weeks ago, Uber Technologies, Inc. launched a new premium driver car option called "Uber Technologies, Inc.Elite." Last week, London-based Wheely, which caters to business elites and high net worth individuals, announced its expansion into New York City, its first U.S. market. Similarly to the acquisition of Blacklane, Lyft acquired TBR Global Chauffering five months ago for $110 million. Based in Berlin, Blacklane has backers such as Mercedes-Benz Mobility and operates in over 500 cities across more than 60 countries through its mobile app and web booking platform. This acquisition aims to enhance the "Uber Technologies, Inc.Elite" service, with the ride-hailing giant currently offering it to frequent users and corporate account customers in Los Angeles and San Francisco and planning to expand it to New York City soon. Uber Technologies, Inc. announced last year that their high-end car options (including Uber Technologies, Inc. Comfort, SUV, and Black) had a total annual booking volume of over $10 billion, a 35% increase from the previous year. Established in 2011, Blacklane was valued at over 5 billion euros (approximately $5.74 billion) following a round of financing in 2024. Its investors include Tasaru Mobility Investments, a subsidiary of the Saudi Public Investment Fund (PIF), as well as Gargash Enterprises LLC, Al Fahim Group, and RI Digital Ventures.