Getaround's US Shutdown: A Cautionary Tale for the Car-Sharing Industry
Getaround, a car-sharing pioneer, abruptly shuts down US operations after financial struggles.
Matilda
Getaround's US Shutdown: A Cautionary Tale for the Car-Sharing Industry
Getaround, a San Francisco-based peer-to-peer car-sharing platform that once held the promise of revolutionizing urban transportation, has abruptly ceased its US operations. This news, delivered via regulatory filing and email to customers, marks a significant turning point for the company, which just a year prior had undergone significant restructuring, including layoffs affecting 30% of its North American workforce. The shutdown also encompasses HyreCar, a company Getaround acquired in 2023 for $9.45 million, further underscoring the severity of the situation. The company's focus now shifts entirely to its European operations, where it maintains a presence in six countries: Norway, Spain, France, Germany, Belgium, and Austria. This strategic retreat from the US market signals a significant loss for the car-sharing industry and raises questions about the long-term viability of the peer-to-peer model. A Rapid Rise and a Tumultuous Fall Founded in 2009, Getaround emerged as a promine…
