Getaround is an online car sharing or peer-to-peer carsharing service that allows drivers to rent cars from private car owners, and owners to rent out their cars for payment. Owners set their rental prices and earn a 60% commission from their rental revenue.
Getaround launched to the public in May 2011 at the TechCrunch Disrupt conference. To date, it has received $103 million USD in venture funding. The company currently operates rentals in Boston, Chicago, New Jersey, Portland, San Francisco Bay Area, and Washington D.C.
Similar to other car sharing services such as Zipcar, Getaround utilizes the economic principles of collaborative consumption. However, the peer-to-peer rental model doesn't require the company to maintain a fleet of vehicles; rather, owners manage and maintain their own vehicles.
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History
Getaround was founded in the summer of 2009 by Sam Zaid, Jessica Scorpio and Elliot Kroo. Zaid and Scorpio were attendees of the inaugural Graduate Studies Program of Singularity University. In May 2011, Getaround won the TechCrunch Disrupt NYC competition In February 2012, Getaround began serving Portland, Oregon with the aid of a $1.725 million Federal Highway Administration grant.
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References
Source of the article : Wikipedia
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