An Interesting Development For Car-Sharing Startup Getaround Despite Pandemic Challenges

In a year where nothing’s quite gone right for businesses, around the world and irrespective of mode of operation and nature of operation, there still are organizations that are smiling. Wondering how? Well, there’s something called not giving up and being resilient in the face of overwhelming odds.

Not that all of that chin-up and keep-doing-it attitude gets you the success. At times, things do work in your favor and the existential crises become your boon, instead of bane, should one put it that way. But would any of that work, if you do not smile and continue to persevere? Get around Getaround to understand how businesses still thrive when having their backs to the wall.

There’ll always be challenges but then some come with a silver lining in the sky, even if that’s too cheesy to deal with in an age where there already are suffocating memes and terms like #FoodPorn that could be done away with, without overdoing them- right?

Getaround happens to be one of the finest online car sharing platforms, which despite facing one of the worst pandemics in mankind’s recent history succeeded with raising $140 million in an additional venture capital funding.

Truth is, the current space of time businesses are amid, is one that points to slight recovery, with markets opening and the possibilities rising. The days of laying low and being worrisome finally seem numbered, even as in an Israel there’s a second nation-wide lockdown and where a France and Germany are still finding it difficult to stall the return of a second wave, which confirms the worst fears of many.

That being said, what is exactly going on with Getaround, and why it is important to know the 550 powered organization.

The following report published on Reuters explains why the sun is shining and the weather is sweet for this sunny San Francisco brand:

The San Francisco-based company, backed by Japan’s SoftBank Group Corp 9984.T has raised a total of nearly $600 million since it was founded more than ten years ago and in previous rounds was valued at more than $1.5 billion.

The company allows private vehicle owners to rent out their cars through Getaround’s platform on an hourly or daily basis and operates in over 100 U.S. cities and more than 170 European locations after the company acquired a local competitor in 2019.

But as they say, after headstrong winds that listen to none, there’s always that time where the skies bend down to life the downed. Which is what happened with Getaround, where after embracing tough months in March and April, a time where the demand drop was no less excruciating than 75%, clear skies and bright lights have once again taken over.

To sum up why there’s a spring in Getaround’s step and deservingly so, the organization’s England-born Chief Executive (who happens to be an engineer and entrepreneur) highlighted the following:

“This round of funding really helps us achieve our goal of profitability!”

Also Read: Uber Green And Its Exciting New Initiative In Berlin That You Need To Know About!

Urban mobility, truth be told, is not only one of the most interesting spaces to forge businesses around but can be the dominant driver of big changes our cities and hence, communities live on. Time for the better part of the world to (not maintain social distancing, but) increase proximity to Getaround!