HyreCar’s platform will increase utilization of Midway’s inventory to take advantage of growing opportunities in commercial vehicle rentals.
Arcimoto's Deliverator, an ultra-efficient, three-wheel electric vehicle designed for local and last-mile delivery, will be available to rent on the HyreCar platform this summer in Los Angeles.
The company reports a new high with over 79,000 rental days in May while moving its insurance liability programs to Lloyd’s Apollo 1969 syndicate, a gig economy provider.
The company has been working with local job boards to introduce drivers to logistics and delivery companies.
This collaboration provides dealers, OEMs, and other providers with an all-inclusive solution to leverage the shift from automotive ownership to access and consumer demand for mobility alternatives.
The revenue increase was driven primarily by a higher net revenue margin associated with two new subscription tiers launched in the second quarter.
Management will host an investor conference call at 2 p.m. PDT Wednesday to discuss HyreCar's second quarter 2019 financial results, provide a corporate update, and conclude with Q&A from participants.
The show will focus on business models, income opportunities, and the continual changing future of mobility.
Michael Root, a seasoned technology executive and software thought leader, who brings three decades of technology experience, having built scalable cloud based solutions for companies like Riot Games, will replace HyreCar’s co-founder Abhishek Arora on the board of directors.
This represents an increase of 13% when compared to revenue of $3.1 million in the fourth quarter of 2018.