HyreCar, a business that specializes in carsharing, ridesharing, and the delivery of food and packages, has declared that it will sell most of its possessions to Getaround in a transaction expected to close on or about May 15.
The acquisition brings HyreCar and Getaround one step closer to achieving a shared vision of providing a seamless and efficient carsharing experience that will revolutionize the way people use transportation to live and work, according to a press announcement by HyreCar. Together, the companies are empowering individuals to:
“Following significant interest from potential bidders for HyreCar’s assets, I’m excited that the next chapter of HyreCar will be as a part of the Getaround family,” said Eduardo Iniguez, CEO and CFO of HyreCar. “HyreCar’s thousands of drivers will now be able to access greater vehicle selection to participate in the gig economy by unlocking meal and delivery opportunities using the Getaround platform.”
HyreCar’s gig carsharing service will continue with no interruptions after the acquisition. Getaround’s bigger reach, digital marketplace, connected car tech and partnerships are going to bring HyreCar customers some new opportunities, the companies said.
“We are particularly excited to introduce HyreCar’s customers to Getaround Connect, a leading contactless sharing platform for the carsharing industry,” said AJ Lee, HyreCar’s COO. “From instant, easy booking of trips to built-in GPS tracking and anti-theft functionality, the platform will provide drivers and owners alike with greater convenience and security than ever before.”
The transaction represents “more than just sound economics for Getaround on our path to profitability,” it also will “strengthen the business,” said Sam Zaid, CEO and founder of Getaround.
He notes HyreCar’s community of drivers will benefit from greater earnings potential on the Getaround marketplace and exciting improvements leveraging GETR technology and partnerships.
Greenberg Glusker LLP in Los Angeles with Cole Schotz as Delaware counsel represented HyreCar. DBS Law in Seattle with Barnes & Thornburg as Delaware counsel represented Getaround.
