Getaround Looks for Buyer as Demand Declines

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Peer-to-peer carsharing app Getaround is is actively looking for a buyer as the demand for rentals has plummeted due to the COVID-19 outbreak, Bloomberg reports.

The company, which says it has over 5 million users, has been previously valued at over $1 billion by investors.

As global travel has fallen, Getaround needs either a buyer or large infusion of cash. If it is unable to obtain either, the company might be have to consider bankruptcy protection.

Originally posted on Automotive Fleet