Golrang Industrial Group acquired about 70% of Tapsi’s shares, and Tapsi, as the first startup that entered the stock market, went through the full cycle of entering the stock market and exiting the company’s shareholders.
According to Iran digital economy annotation, after the speculations about the purchase of Tapsi by Golrang Industrial Group since the middle of December, this event finally happened officially today.
Yesterday, two blocks of Tapsi shares, one for 13.64% and the other for 27.74%, were sold in the OTC. Today, the third and fourth blocks were sold. More than 68% of Tapsi was traded in these two days.
Golrang bought 24.62% of Tapsi shares in the third block with a volume of 606 million shares worth 13.5 Million dollar, and the fourth block bought 2.95% of Tapsi shares with a volume of 72 million shares worth 1.6 Million dollar, up to 69%. The shares of this internet taxi will be owned by Golrang Industrial Group.
This online taxi platform was successfully launched in the second over-the-counter market in June 2021 after many struggles. The market value of Tapsi or Market Cap at the beginning of the initial offering was about 26 Million dollar, which has now reached 43 Million dollar.
Do the founders stay?
In this regard, Milad Monshipour, the CEO of Tapsi, has announced, that he no longer has a share in Tapsi, but he has not yet decided whether he will continue his activities in Tapsi.
He said about Golrang: When the news about the transfer of Tapsi’s shares to Golrang came out, no agreement had been reached and nothing was clear. There were other collections that maybe made even more attractive financial offers, but maybe they were looking for the advertising effect of this purchase to some extent; Finally, with our evaluations, we came to the conclusion that Golrang intends to enter with a clear and precise strategy and can promote the company.
Monshipour continued: The fate of Tapsi is definitely important to me. I may stay in the company and continue my activity, and I may make a different decision. Nothing is clear yet.
He also said: “Tapsi’s volume in terms of the amount of travel and drivers and other things is equal to Karim’s platform in the UAE, but this internet taxi was valued at about 3.5 billion dollars two years ago, while our value is about 34 million dollars.”
According to him, the volume of all the investments that have been made on Tepsi from the beginning reaches 11 million dollars.
The current CEO of Topsi explained about the growth capacities of Tapsi: Although the real estate economy in Iran has high efficiency and profit compared to the economy of innovation, but still big things can be done in the country and startups have the ability to compete with the non-property sectors of the economy. Tapsi can become a super company to reach the market size of its competitor in this market with future investments.
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