I am thrilled to share some exciting news with all of you. Last week, we announced our acquisition of substantially all of the assets of HyreCar, the premier carsharing marketplace for ridesharing, food, and package delivery. This is a significant milestone for us at Getaround and sets the stage for even greater success in the future.
Our mission has always been to revolutionize the way people access transportation by creating a connected carsharing marketplace. With the addition of HyreCar, we are taking another giant leap toward fulfilling that mission. By combining our technology, platform, and expertise with HyreCar's assets and community, we are accelerating our path to profitability and strengthening our leadership position in the gig carsharing space, a rapidly growing segment of carsharing.
The synergies between Getaround and HyreCar are very clear. Since 2014, HyreCar has established itself as a pioneer in the gig economy carsharing category, with an asset-light model, extensive user data, and strong risk management solutions. These assets not only contribute to the top and bottom lines, but also are a great fit with Getaround's existing technology, key partnerships, and future growth plans.
We are particularly excited about the fantastic community of customers we will be welcoming to the Getaround marketplace in the coming weeks. HyreCar brings with it thousands of cars and tens of thousands of gig drivers, all of whom will now have access to Getaround's advanced technology. This means more opportunities for hosts to grow their businesses and unlock additional earnings potential.
We are confident in our ability to seamlessly integrate the acquired assets into our existing operations and maximize the potential for growth and success. In fact, we're uniquely positioned to expand the gig carsharing market, thanks to our strong partnerships (such as Drive with Uber) in the gig economy space. We believe this deal will deliver strong long-term value for all Getaround customers and stakeholders:
- Expanded Community of Users: This exciting deal grants us access to tens of thousands of gig drivers and thousands of cars in a rapidly growing segment of carsharing, allowing us to serve even more people and communities.
- More Ways to Earn: Existing Getaround hosts will have the opportunity to earn additional income by sharing their cars with gig drivers, if they choose, which further maximizes earning potential.
- Enhanced Product Offering for All Hosts: With our cutting-edge Connect® technology, like our current hosts, HyreCar hosts will be empowered to grow their businesses faster and manage their fleets more efficiently through the power of technology.
- Stronger Financial Position: We're thrilled to share that we expect the acquisition to expedite our path to profitability and make Getaround an even stronger player in the carsharing space.
I would also like to extend a warm welcome to HyreCar’s community, who are now part of Getaround. Together, we will continue to push boundaries, innovate, and shape the future of shared mobility.
As we forge ahead, Getaround is unwavering in our dedication of empowering people with our peer-to-peer marketplace, which encourages a shift from car ownership towards a more sustainable and adaptable transportation model. By engaging in the gig economy through carsharing, individuals can not only create opportunities for themselves but also contribute to building eco-friendlier cities. Together, we're making a difference!
Thank you for being part of our incredible journey. We are immensely grateful for your support, and we can't wait to embark on this exciting new chapter with all of you.
To the road ahead!
Founder & CEO @ Getaround