The US peer-to-peer car-sharing platform, Getaround, recently purchased the Paris-based a car-sharing platform, Drivy, for $300 million. Drivy's platform included 2.5 million users throughout Europe, all of whom will now be included into Getaround's platform which doubles their user base.
"We are thrilled to be joining forces with the Drivy team as we move closer to our vision of creating a world where all cars are connected and shared," said Getaround Founder and CEO Sam Zaid in a statement. "As the leading European carsharing marketplace, Drivy has built a strong business with products, teams, and values that closely align with ours at Getaround, making for a natural integration for our employees and users.”
Started up in 2009, Getaround is hoping to change traditional vehicle ownership as well as vehicle rentals by allowing private owners to "rent" their car out when they aren't using it. Consumers just list their vehicle on the platform, users can reserve the car and Getaround takes a small fee. The patented technology, named Getaround Connect, lets users unlock the cars without needing to meet the owner ahead of time. The service also offers insurance and 24/7 roadside assistance.
The company is focused on lowering the amount of cars on the road. A University of California Transportation Sustainability Research Study found that for every vehicle that is shared it takes around ten cars from the roads. Zaid has stated that he uses Getaround for this very reason and hasn't owned a car of his own in over ten years.
Getaround has been fueled recently after raising $300 million during a fund raising round led primarily by SoftBand. The company doubled their employees by the end of last year and still have around 90 open positions to fill. Also toward the end of last year, Getaround agreed to rent a new office in San Francisco for ten years.
“We’ve outgrown this office, that’s why we’re moving into a much larger space,” Zaid told the Business Times late last year.
Getaround won't be the only car-sharing platform within Europe with rival Turo, a German-based company operating in the UK and Canada as well, boasting their own 10 million users.