Hyundai and Enterprise have recently invested in Migo, a Seattle-based startup that hopes to become the "Netflix of transportation". Migo allows customers to use Uber or Lyft for ride-hailing, Lime for bicycle and e-scooter sharing, Car2Go for car-sharing, as well as taxis and public transport. Migo is a mobile app currently available through the Apple Store and boasts to have over 80,000 users.
The app provides real-time pricing and wait times for rides in more than 75 cities in the United States and Canada, including New York, Los Angeles, Chicago, and Toronto, per a statement. The Seattle startup raised $9 million from investors including Hyundai's Center for Robotic-Augmented Design in Living Experiences (CRADLE) and Clayton Venture Partners, the venture capital arm of Enterprise, whose car-rental brands also include Alamo and National, per a statement.
Hyundai and Enterprise's investment in Migo is another sign that transportation-related companies see mobile technology profoundly affecting the way people get around. The broader idea of Mobility-as-a-Service (MaaS) means that many consumers will avoid the expense of buying, insuring and servicing a car that loses value and spends more than 90% of its life sitting idle, according to some estimates. Instead, these consumers will rely on other kinds of transportation services, including ride-hailing, to get from place to place.
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