Getaround (NYSE: GETR), a San Francisco, CA-based connected carsharing marketplace, is acquiring substantially all of the assets of HyreCar (OTC: HYRE), a Los Angeles, CA-based premier gig carsharing marketplace, for an aggregate purchase price of $9.45m.
The acquisition is expected to add up to $75m of run-rate annualized Gross Booking Value and to contribute positive Adjusted EBITDA, accelerating Getaround’s path to profitability. It is expected to be synergistic as the company expands its global market footprint, as well as to bolster its leadership position in gig carsharing, while leveraging its technology and platform to enable further scale.
Led by Eduardo Iniguez, CEO, HyreCar is a national carsharing marketplace for ridesharing, food, and package delivery via its proprietary technology platform. The company has established a strong presence in Mobility as a Service (MaaS) through individual vehicle owners, dealers, rental agencies, and OEMs that wish to participate in new mobility trends.
Led by Sam Zaid, CEO and Founder, Getaround enables car and truck sharing through its proprietary cloud and in-car Connect® technology. The on-demand technology enables a contactless experience — no waiting in line at a car rental facility, manually completing paperwork, or meeting anyone to collect or drop off car keys. Launched in 2011, the company is available today in more than 1,000 cities across the United States and Europe.
FinSMEs
12/05/2023