Category: acquisition

April 24, 2019 Off

Getaround acquires European car rental platform Drivy for $300 million

By Jill T Frey

Getaround, the peer-to-peer car-sharing startup that launched at TC Disrupt back in 2011, is making moves to become a global car rental service. Today, the SoftBank-backed startup announced its acquisition of Drivy, a Paris-headquartered car-sharing startup that operates in 170 European cities.

“We were obviously looking at what our European strategy was and how we would expand out of the U.S. and into other parts of the world,” Getaround CEO Sam Zaid told TechCrunch. “When we started looking at Europe, it became clear Drivy was the market leader. They also shared the same vision.”

This marks Getaround’s first expansion out of the U.S. As part of the deal, Drivy founder and CEO Paulin Dementhon will run the company’s operations in Europe as CEO for the continent.

“Getaround is an ideal partner for us because our companies are aligned in so many ways while being complementary on key aspects of our … Read the rest