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 Fleet Forward