Martı Technologies Inc. has elected Alex Spiro to its board of administrators, simply weeks after Elon Musk’s longtime lawyer visited the headquarters of the Turkish mobility tremendous app.
The announcement of naming Spiro as a “Class II director” got here after the corporate’s 2024 annual normal assembly of shareholders.
“I am very pleased to have the opportunity to work with Alex on Martı’s Board. His experience with a broad range of clients across the fields of business and politics in the U.S., and, most notably, with leading global technology entrepreneurs, gives me confidence that he will contribute to our Company and mission,” mentioned Oğuz Alper Öktem, Martı’s founder and CEO.
Earlier this month, Spiro was at Martı’s headquarters for a go to that Öktem mentioned centered on the potential for future cooperation.
“I have had the good fortune of working with some of the greatest entrepreneurs and companies in the world. Alper and his team are among the best I’ve seen. I am pleased to support them and the Company as we reach scale and achieve profitability in 2025,” mentioned Alex Spiro.
A litigator and associate at Quinn Emanuel Urquhart & Sullivan LLP, Spiro serves as chair of Glassbridge Enterprises and is a board member and strategic advisor to a variety of firms.
He is a former prosecutor and a graduate of Harvard Law School, the place he continues to show.
Spiro has lengthy been a prime lawyer for Musk, representing him in court docket circumstances involving the U.S. Securities and Exchange Commission (SEC) and different issues.
Founded in 2018, Martı – the Turkish phrase for “seagull” – operates a ride-hailing service that matches riders with automobile, bike and taxi drivers, and operates a big fleet of rental e-mopeds, e-bikes and e-scooters.
In July 2023, it grew to become the primary Turkish entity to listing in New York through a merger with a blank-check firm.
As of Dec. 15, Marti’s ride-hailing service reached 1.61 million riders and 255,000 registered drivers, based on its web site. It has set targets for 1.9 million riders and 290,000 registered drivers by the top of subsequent March.
It estimates it can attain constructive free money circulate in 2025, which it expects to finish 2025 with $34 million in income and $3 million in adjusted earnings earlier than curiosity, tax, depreciation, and amortization (EBITDA).
Source: www.dailysabah.com