The transaction, whose amount was not disclosed, aims to position RelayRides to further accelerate its growth and continue industry expansion.
In conjunction with the acquisition, RelayRides will add people from the Wheelz team – led by CEO Jeff Miller – and intellectual property, including its proprietary DriveBox technology, which allows renters to reserve, find, and unlock a car in minutes from a smartphone. It was introduced on college and university campuses throughout California and then on the urban centers of San Francisco and Los Angeles.
Led by Andre Haddad , CEO, RelayRides is a car sharing marketplace with vehicles in over 1,450 cities in all 50 states. The company has raised more than $13m in venture capital funding from investors including Google Ventures, August Capital, Shasta Ventures and General Motors Ventures.
The RelayRides Blog: RelayRides Just Got New Wheelz