Getaround

As a pioneer in the field, the company has established an impressive network of 6 million users in over 100 cities. That in turn means that compared to upstart competitors like Turo and Maven, they can deliver an altogether more convenient service and products like a ‘Power Host’ program (similar to AirBnb’s).

The companies most challenging competition is now coming from rival mobility startups like Lime and Bird. To match them on environmental credentials, the company plans to only allow electric and low-emission vehicles on their platform from 2030.

Like many companies in the space, a continuing challenge for Getaround is with regulators who are concerned by the abuse of participants in the gig-economy system. After a SPAC IPO through a merger with InterPrivate II Acquisition Group in 2022, share values made its public market debut Friday through a merger with blank-check company InterPrivate II Acquisition Corp. The company saw its share value drop more than 65%, reflecting the chilly environment for both SPACs and ridesharing companies. Investment in their public affairs and a renewed interest in car sharing are helping to turn the tide for Getaround.