Getaround

Getaround, Inc. (OTC: GETR) is a technology-powered car-sharing marketplace that connects vehicle owners with drivers seeking on-demand transportation through an app-based platform that enables fully digital, keyless car access without requiring in-person key exchanges. Founded in 2009 and headquartered in San Francisco, Getaround pioneered the concept of digital keyless car sharing through its proprietary Connect hardware technology — a device installed in participating vehicles that enables the Getaround app to remotely lock and unlock the car, track location, and manage the sharing experience without any involvement from the vehicle owner. According to its website at getaround.com, the company operates in cities across the United States and Europe, providing drivers with access to thousands of cars that can be reserved by the hour or day entirely through the mobile app.

Getaround's two-sided marketplace model, described at getaround.com, connects vehicle owners (hosts) who earn income by renting their personal vehicles during idle periods with drivers (guests) who access a diverse selection of cars at rates typically competitive with or below traditional rental car companies. The company provides hosts with Connect device installation, liability insurance coverage during rental periods, 24/7 roadside assistance for guests, and a customer support infrastructure that enables sharing with minimal owner involvement — the car is simply parked at a designated location and guests access it digitally through the app. Getaround's vehicle fleet spans a wide range of types from economy compacts to luxury SUVs and electric vehicles, enabling the platform to serve diverse transportation needs from daily commuting to weekend trips and special occasions.

Getaround's fully digital, owner-absent car sharing model creates a fundamentally more convenient and scalable car sharing experience than traditional rental car companies or car sharing services that require in-person key handoffs, enabling the platform to offer 24/7 booking with instant access and flexible, granular pricing by the hour. According to getaround.com, the company's mission is to reduce car ownership and urban congestion by enabling more efficient utilization of the approximately one billion personal vehicles globally that sit idle for the vast majority of the time — channeling idle vehicle capacity into a shared transportation resource that benefits both car owners seeking income and drivers seeking flexible transportation access. Getaround's combination of proprietary Connect technology, two-sided marketplace model, European and U.S. operations, and sustainable transportation mission positions it as a distinctive participant in the shared mobility ecosystem.