Getaround Inc., a publicly traded company that allows car owners to rent their vehicles to ride-share and delivery drivers, is buying competitor HyreCar Inc. out of bankruptcy for $9.45 million.
Through the acquisition, Getaround aims to boost its position in the digital car-sharing market and connect “tens of thousands of gig drivers” with thousands of additional cars, it said.
The purchase, announced late Thursday, comes just six months after Getaround went public through a de-SPAC transaction and instantly saw its stock price plummet by about 70% on its first day of trading. The company said earlier this year it was ...
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