This week, peer-to-peer car sharer RelayRides announced Renting Social, according to a press statement by the company. The initiative enables renters to advertise their interest in renting a car via Facebook, inviting car owners in their social network to rent their cars to them through the RelayRides marketplace.
"Our Renting Social product enhancement is a key step toward fulfilling our vision of having a RelayRides car within a 10 minute walk of 100 million Americans by the end of 2015—we think of this as democratizing the benefits of car sharing," said Andre Haddad, CEO of RelayRides.
"Following the expansion of our marketplace into 1,450 cities in all 50 states, we are now enabling renters to attract vehicle owners through their own social networks and empower their friends to earn meaningful income—as much as $1,000 a month or more renting their typically idle car."
The new Renting Social feature is designed to be used for rental requests in locations where there are few cars available or whenever a potential renter uses RelayRides' new "carcierge" car-finding service. This feature enables renters to advertise their need for a rental car on their Facebook Timelines. The messages can then be shared throughout the users' social networks just like standard posts on Facebook. People who see these posts can then click on them to offer their cars to that person through the RelayRides marketplace.
The revenue increase was driven primarily by a higher net revenue margin associated with two new subscription tiers launched in the second quarter.