Yahoo’s Marissa Mayer, Ashton Kutcher, Menlo Venture’s Shervin Pishevar and Google’s Eric Schmidt are the biggest names that make up Getaround’s $13.9 million Series A round, which was just announced today (See Video Above For Details). A simplistic comparison of the company is that Getaround is the Airbnb for cars, which is technically not a perfect analogy but is useful to wrap your head around the idea. It is a peer to peer car sharing service that allows any user to list their car for rent, and any user to rent a car. Maybe you need a car for a few hours to get to a meeting on Sand Hill, or maybe you’re just dying to take a joy ride in a Tesla, either way Getaround is the solution to both.
With markets in San Francisco, Austin, Portland, and San Diego they have been creating revenue since day one by taking 40% of the cut of each rental (with the lister setting the price). In a typical month, on the low end people are making between $300 and $400 and on the high end people can make up to $5,000 per month. Today, they are launching a new service Getaway, which enables users to share their car full time, and during this initial beta period, Getaway owners are guaranteed to make at least $1000 for their first three months.
As someone who is leaving for college in a few weeks, Getaround seems to me like a quality service for someone under 25 who needs to rent a car. Considering many of my friends are attending colleges that are a good driving distance away, its assuring to know that with the click of a button I could go visit them at any time. And if I decided to rent out the extra car sitting in the driveway, I could pay for most of my books without needing to stress myself out first semester scrambling for a part-time job while trying to acclimate to my new home.