What
Aiming to solve the problem of an inefficient, costly consumer car market through a car sharing system.
Disrupting
Passenger travel market.
Source: Getaround
Headquarters: San Francisco
CEO: Sam Zaid
Year Founded: 2009
Number of Employees: 30
Funding: $14 million (latest and largest round)
Key Investors: Menlo Ventures, Marissa Mayer, Ashton Kutcher and Innovation Endeavors (the venture arm of Eric Schmidt)
Vital Stats
- In the next 10 years the 1 billion worldwide car market is set to double
- Each shared car takes 13 cars off the road
- An average car sits idle 22 hours per day, or 22 billion car hours wasted daily
- 250 million cars in the U.S.
- You can rent cars from a Prius to a Tesla using Getaround, and rent through an iPhone
- Individual car owners set rental prices and availability
- Can earn $800 a month renting your car (versus $8,000 a year in average car cost)
- Revenue target for 2013-2015 is $100 million
- Expects to be profitable before 2015
On Disruption
"Creative destruction."
