Getaround
Getaround is a peer-to-peer car sharing marketplace that enables car owners to rent out their cars.
North America, United States Disrupt NY 2011 2011 Winner
Details
2010
IPO
Founders
Sam Zaid Founder
TechCrunch’s Premier Startup Competition
Getaround is a peer-to-peer car sharing marketplace that enables car owners to rent out their cars.
North America, United States Disrupt NY 2011 2011 Winner
2010
IPO
Sam Zaid Founder
Getaround, a company that helps vehicle owners rent out their cars, trucks and SUVs to other peers, is cutting 30% of its North American workforce as part of a restructuring. The company said in a statement it will restructure its workforce and operations to reduce costs in hopes of extending its cash runway and accelerating […]
Peer-to-peer carsharing company Getaround has filed its first earnings report since going public a year ago via a SPAC combination. The company’s third-quarter earnings report details a company seeing quick revenue growth, but not enough top line yet to cover its expenses. Getaround reported gross bookings of $69 million in the third-quarter, resulting in $23.8 […]
Peer-to-peer car-sharing company Getaround said Thursday it will acquire the assets of HyreCar, another car-sharing marketplace, for $9.45 million. Getaround expects to realize up to $75 million of run rate annualized gross booking value from the deal, which the company says will contribute to positive adjusted EBITDA profitability. “At this acquisition price point, we believe […]
Turo could be the first out of the IPO gate when the public-offering window reopens.
Peer-to-peer car-sharing company Getaround is laying off 10% of staff starting Thursday. The layoffs are part of a restructure aimed to put Getaround on the path to “sustainable profitability and long-term growth,” the company said in a statement. Per LinkedIn, Getaround has 421 employees, so the staff cuts should affect around 42 employees. Getaround would […]
The New York Stock Exchange has issued a delisting warning to peer-to-peer car rental company Getaround for trading too low, according to the company. Getaround debuted on the public markets in December after merging with a special purpose acquisition company (SPAC). The combined company’s stock began trading at around $10 per share and promptly lost […]
Despite the falling value and generally poor performance of SPAC listings, there's a simple argument for Getaround's SPAC deal.
Why did Getaround go public, and why has the reaction to its SPAC combination been so negative, so quickly?
Getaround was fined nearly $1 million by the Washington, D.C. Office of the attorney general for operating without a license and other violations, part of a settlement of what the peer-to-peer car rental startup calls “politically motivated allegations.” The AG’s office started investigating the company early last year, after it received reports of vehicle thefts […]
Ned Desmond, a longtime publishing executive who spent more than half a dozen years at Time Inc. before becoming the chief operating officer of both TechCrunch and Engadget for more than eight years, has joined the investment firm SOSV as a senior operating partner. It’s seemingly a good fit for both sides. SOSV — which […]
Car-sharing marketplace Turo has teamed up with Kiva to offer interest-free loans to Black people and folks from traditionally underserved communities to buy cars and then share them on Turo. The $1 million commitment aims to address the issue of wealth inequality in the United States. Called the Turo Seed Initiative, those who are eligible […]
Silicon Valley peer-to-peer car rental startup Getaround has secured a $25 million loan from Horizon Technology Finance Corporation. The financing announcement comes one month after Getaround raised $140 million from investors, including SoftBank Vision Fund, Menlo Ventures, Reid Hoffman and Mark Pincus’ Reinvent Capital. Getaround’s raise signals that the company is looking for new ways […]
Zoom has a new marketplace and new integrations, Spotify gets a new format and we review Microsoft’s Surface Laptop Go. This is your Daily Crunch for October 14, 2020. The big story: Zoom launches its events marketplace Zoom’s new OnZoom marketplace allows anyone to host and sell tickets for virtual events. It’s also integrating the […]
Amid a rebound in short-distance travel, Getaround, a Silicon Valley car rental startup, has raised some new money to meet demand. The startup, which allows customers to instantly rent cars near them in more than 100 cities, announced today that it has raised $140 million in a Series E deal, bringing its total known venture […]
At TechCrunch Disrupt, our Startup Battlefield event is the centerpiece of the event, the true heart of this signature program. There’s good reason we take it so seriously. Over the years, the Startup Battlefield competition has helped launch dozens of nascent startups that have grown into game-changing brands, including Cloudflare, Dropbox, Vurb, Mint, GetAround, Fitbit, […]
Get featured in front of the largest TechCrunch Disrupt audience in history. The opportunity clock is ticking, and you have just 72 hours left for a chance to compete head-to-head against top startups from around the world at Disrupt 2020. Beat the deadline — apply to compete in Startup Battlefield before June 19 at 11:59 […]
Today we're taking stock of what's happening to a number of unicorns, both public and private.
Mattress company Casper is shutting down its European operations and laying off 78 people as it focuses on “achieving profitability,” according to a statement by the company. The layoff impacts 21% of its corporate workforce globally. In the statement, the company said that it is winding down European operations to “concentrate on the strength of […]
GM’s experiment with car sharing is over. The automaker Tuesday said its Maven car-sharing service, which launched in 2016, will shut down for good. Maven had paused service due to the COVID-19 pandemic. The company sent an email to customers Tuesday that after examining the business, the car-sharing industry and COVID-19, it decided to shutter […]
Hi, and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages travel from Point A to Point B. I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch. If this is your first time, hello; I’m glad you’re with us. I have started to publish a version of […]
Early-stage founders: Don’t miss your chance to follow in the footsteps of tech giants. We know COVID-19 has created challenges for startup founders, but fear not. Disrupt SF is still proceeding as scheduled, with a Disrupt Digital Pass Virtual option. Launch your startup in the world’s most famous pitch competition, Startup Battlefield. The smackdown goes […]
This morning, let's remind go over what happened in the first wave of recent unicorn layoffs (Zume, Oyo, Uber, etc) and how it compares to what is happening today as ZipRecruiter, Bird and TripActions cut staff of their own.
Are January layoffs just a few post-WeWork jitters? TechCrunch has found itself writing about layoffs at a few notable tech companies this week — and not just SoftBank-backed ones. The focus is very much profits, as Alex Wilhelm summed up on Thursday, especially after the failed WeWork IPO and subsequent valuation and headcount decimation. We’ll […]
This week we’ve covered layoffs at unicorns both inside the Vision Fund and out. This afternoon we add two more to our list: Oyo and Rappi. The staff reductions are surprising — and not. They are surprising, as Oyo (India-based, low-cost hotels) and Rappi (Latin America-focused e-commerce) were bright lights in the Vision Fund’s crown. […]
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. A million dollars isn’t cool. You know what’s cool? Positive adjusted EBITDA, or something close to it. That’s the message from scooter unicorn Lime, which announced this week that it was cutting about 14% of […]
Silicon Valley’s top valued car rental startup, Getaround, announced layoffs today, making it the latest SoftBank-backed entity of late to pare down its workforce. The Information, which first reported the news, pegs the layoffs at 150 employees, amounting to around a quarter of the company. In the report, CEO Sam Zaid seemed to lay at […]
European peer-to-peer car rental service Drivy has a new name. It is now called Getaround, which shouldn’t surprise anyone who has been following Drivy’s recent news. Back in April, Getaround announced the acquisition of Drivy for $300 million to expand to Europe. And Drivy is now 100% part of Getaround as the company is unifying […]
And the next car-sharing unicorn is...
A few years ago, Silicon Valley couldn’t stop using a trendy buzzword — the sharing economy. The good old top-down economic model with a clear separation between service providers and clients was falling apart. And huge tech companies disrupted entire industries, from Airbnb to Taskrabbit, Uber, Etsy and Getaround. When you retrospectively look at the […]
Will transportation technologies become the industry disruptors many pundits suggested they would?