Getaround

Getaround, a peer-to-peer car-sharing company founded in San Francisco in 2009, shut down its U.S. operations in February 2025 to focus on its European business.^1235611 The company had raised more than $750 million from investors including SoftBank Vision Fund and went public via a SPAC merger in 2022.¹⁸¹⁰¹¹ Getaround faced liquidity issues and laid off all U.S. employees as part of an orderly wind down approved by its board on February 7, 2025.¹⁵¹¹

Timeline

Date	Event	Source
2009	Getaround was founded in San Francisco.	158101112
2011	Getaround launched its car-sharing service and won TechCrunch Disrupt New York Battlefield.	11011
2012-08	Getaround raised a $14.82 million Series A round.	8
2014-11	Getaround raised a $19.31 million Series B round.	8
2017-04	Getaround raised a $40.77 million Series C round.	8
2018-08	Getaround raised a $300 million Series D round led by SoftBank Vision Fund.	1891011
2019	Getaround acquired Drivy and Nabobil to expand into Europe.	1581012
2019-09	Getaround was reported to be raising $200 million at a $1.7 billion valuation.	1012
2020-10	Getaround raised a $140 million Series E round.	91113
2022-12-08	Getaround completed a SPAC merger and began trading on the NYSE under ticker GETR.	1811
2023	Getaround acquired HyreCar for $9.45 million.	15
2023	Getaround received a delisting warning notice from the New York Stock Exchange.	1
2023	Getaround conducted layoffs as part of restructuring.	15
2024-01	Getaround raised a $20 million post-IPO debt round from Mudrick Capital Management.	911
2024	Getaround cut 30% of its North American workforce.	1
2025-02-07	Getaround's board approved an orderly wind down of its U.S. car-sharing business.	1
2025-02-12	Getaround announced the shutdown of its U.S. operations and layoffs of all U.S. employees.	12356

Money raised

Getaround raised more than $750 million from high-profile investors.¹ In 2018, Getaround raised a $300 million Series D round led by SoftBank Vision Fund.^1891011 In 2019, Getaround was reported to be raising $200 million at a $1.7 billion valuation.¹⁰¹² In October 2020, Getaround raised a $140 million Series E round.⁹¹¹¹³ Getaround's total funding was $573.43 million as of its last private round, according to Forge.⁸ Getaround raised a $20 million post-IPO debt round from Mudrick Capital Management in January 2024.⁹¹¹ Getaround acquired HyreCar in 2023 for $9.45 million.¹⁵ Getaround acquired Drivy for $300 million in 2019.¹¹⁰ Getaround acquired Nabobil for $12 million in 2019.⁸¹²

Investors named in the sources: SoftBank Vision Fund^1891011, Menlo Ventures¹⁸¹⁰¹¹, PeopleFund¹⁸⁹, Reinvent Capital¹⁸, VectoIQ partners¹⁸, Toyota Motor Corporation⁸⁹¹⁰¹¹, Mudrick Capital Management⁹¹¹, Horizon Technology Finance⁸⁹, Braemar Energy Ventures⁸⁹, Sparx Group⁸, Triangle Peak Partners⁸¹¹, Pennant Investors⁸¹¹, Reid Hoffman¹¹¹, Mark Pincus¹, Steve Girsky¹¹¹, Mary Chan¹¹¹, Julia Steyn¹¹¹, Ashton Kutcher¹¹¹², Madrona Venture Group¹¹¹², Andreessen Horowitz¹¹, BMW i Ventures¹¹, Zetta Venture Partners¹¹, Henry McGovern¹¹, Jason Mudrick¹¹.

What happened

Getaround was founded in 2009 in San Francisco by Sam Zaid, Elliot Kroo, and Jessica Scorpio.^158101112 Getaround launched its car-sharing service in 2011 and won TechCrunch Disrupt New York Battlefield.¹¹⁰¹¹ The company allowed vehicle owners to rent out their cars, trucks, and SUVs to other peers.¹⁵ Getaround raised more than $750 million from high-profile investors.¹ In 2018, Getaround raised a $300 million Series D round led by SoftBank Vision Fund.^1891011

Getaround used the funding to expand into other cities and eventually Europe.¹ In 2019, Getaround acquired Drivy, a Paris-headquartered car-sharing startup, for $300 million.¹¹⁰ In 2019, Getaround also acquired Nabobil, a Norwegian car rental company, for $12 million.¹⁸¹² Getaround expanded into six European countries: Norway, Spain, France, Germany, Belgium, and Austria.¹⁵ In September 2019, Getaround was reported to be raising $200 million at a $1.7 billion valuation.¹⁰¹²

In October 2020, Getaround raised a $140 million Series E round.⁹¹¹¹³ Getaround went public in December 2022 via a merger with a special purpose acquisition company (SPAC).¹⁸¹¹ The SPAC merger listed Getaround on the NYSE under ticker GETR with an implied valuation of $1.2 billion.⁸¹¹ Within months of going public, Getaround received a delisting warning notice from the New York Stock Exchange.¹ Getaround went through layoffs in 2023 and 2024.¹⁵

In 2023, Getaround acquired HyreCar for $9.45 million.¹⁵ In 2024, Getaround cut 30% of its North American workforce as part of a restructuring.¹ Getaround faced ongoing lack of liquidity, which made U.S. operations no longer viable.¹⁵ The wind down included laying off all U.S. employees.¹ The majority of U.S. workers ended their employment on February 14, 2025, with a few remaining to help close the business.¹

Getaround estimated it would incur charges of between $1.5 million and $2 million in connection with the reduction in force.¹ Getaround announced the shutdown of its U.S. operations on February 12, 2025.¹²³⁵⁶ The company also closed its HyreCar business.¹⁵ Getaround said it would focus on its European business, where it operates in six countries.¹⁵ Getaround emailed U.S. customers urging them to return car rentals by the end of Wednesday, February 12, 2025.¹²⁵

The email said Getaround was at risk of no longer being able to provide liability insurance coverage in the U.S.¹ Customers who did not return vehicles by the deadline would be personally responsible for ensuring required liability insurance coverage.¹⁵ Getaround's car protection program no longer applied to any vehicle not returned by the end of the day.¹ Getaround canceled any future U.S. rentals.¹ Getaround said it would support rentals, including insurance coverage, until the end of Wednesday.¹

Getaround said it was working closely with hosts and drivers to return vehicles as soon as possible.¹ Any outstanding claims or balances would be handled through the wind-down process.¹ Interim CEO and COO AJ Lee said the decision was incredibly difficult and not made lightly.¹ AJ Lee said that despite significant improvements in overall profitability and extensive restructuring efforts, the company faced an ongoing lack of liquidity.¹ AJ Lee was stepping down from the position.¹

Getaround's U.S. shutdown left customers scrambling to return vehicles and find alternative transportation.² Getaround's exit from the U.S. was part of a broader trend of car-sharing services struggling in the market.⁴ Getaround's European business continued to operate after the U.S. shutdown.¹⁵¹¹ Getaround's total funding was $573.43 million as of its last private round, according to Forge.⁸ Getaround raised a $20 million post-IPO debt round from Mudrick Capital Management in January 2024.⁹¹¹

Getaround's investors included SoftBank Vision Fund, Menlo Ventures, PeopleFund, Reid Hoffman, Mark Pincus, and VectoIQ partners.¹ Getaround's investors also included Toyota Motor Corporation, Mudrick Capital Management, Horizon Technology Finance, and others.⁸⁹¹¹ Getaround was a VC darling, raising more than $750 million from high-profile investors.¹ Getaround used the money to expand into other cities and eventually Europe.¹ Getaround's acquisition of Drivy and Nabobil in 2019 expanded its European presence.^1581012

Getaround's SPAC merger in 2022 was completed with InterPrivate II Acquisition Corp.¹⁸¹⁴ Getaround conducted layoffs in 2023 and 2024 as part of restructuring efforts.¹⁵ Getaround's U.S. operations were no longer viable due to lack of liquidity.¹⁵ Getaround's board approved the wind down on February 7, 2025.¹ Getaround's U.S. employees were laid off, with the majority ending employment on February 14, 2025.¹

Getaround estimated charges of $1.5 million to $2 million for the reduction in force.¹ Getaround's customers were given until the end of February 12, 2025, to return vehicles.¹²⁵ Getaround's car protection program no longer applied to vehicles not returned by the deadline.¹ Getaround canceled future U.S. rentals.¹ Getaround said outstanding claims or balances would be handled through the wind-down process.¹

Getaround's interim CEO AJ Lee said the decision was difficult and made after careful consideration of strategic options.¹ Getaround's European business continued to operate in six countries.¹⁵ Getaround's HyreCar business was also closed.¹⁵ Getaround's U.S. shutdown was abrupt, leaving customers with little time to return vehicles.¹² Getaround's exit from the U.S. was reported by multiple news outlets.¹²³⁴⁵⁶

Getaround's failure was attributed to peer-to-peer car sharing never becoming profitable, according to IdeaProof.⁷ Getaround lost $600M+ in raised capital, according to IdeaProof.⁷ Getaround's customers were left scrambling to find alternative transportation, according to NerdWallet.² Getaround's U.S. operations ceased in February 2025, while its European business remained active.¹⁵¹¹ Getaround's total funding was $573.43 million as of its last private round, according to Forge.⁸

Getaround raised a $20 million post-IPO debt round from Mudrick Capital Management in January 2024.⁹¹¹ Getaround's investors included SoftBank Vision Fund, Menlo Ventures, PeopleFund, Reid Hoffman, Mark Pincus, and VectoIQ partners.¹ Getaround's investors also included Toyota Motor Corporation, Mudrick Capital Management, Horizon Technology Finance, and others.⁸⁹¹¹ Getaround was a VC darling, raising more than $750 million from high-profile investors.¹ Getaround used the money to expand into other cities and eventually Europe.¹

Getaround's acquisition of Drivy and Nabobil in 2019 expanded its European presence.^1581012 Getaround's SPAC merger in 2022 was completed with InterPrivate II Acquisition Corp.¹⁸¹⁴ Getaround conducted layoffs in 2023 and 2024 as part of restructuring efforts.¹⁵ Getaround's U.S. operations were no longer viable due to lack of liquidity.¹⁵ Getaround's board approved the wind down on February 7, 2025.¹

Getaround's U.S. employees were laid off, with the majority ending employment on February 14, 2025.¹ Getaround estimated charges of $1.5 million to $2 million for the reduction in force.¹ Getaround's customers were given until the end of February 12, 2025, to return vehicles.¹²⁵ Getaround's car protection program no longer applied to vehicles not returned by the deadline.¹ Getaround canceled future U.S. rentals.¹

Getaround said outstanding claims or balances would be handled through the wind-down process.¹ Getaround's interim CEO AJ Lee said the decision was difficult and made after careful consideration of strategic options.¹ Getaround's European business continued to operate in six countries.¹⁵ Getaround's HyreCar business was also closed.¹⁵ Getaround's U.S. shutdown was abrupt, leaving customers with little time to return vehicles.¹²

Getaround's exit from the U.S. was reported by multiple news outlets.¹²³⁴⁵⁶ Getaround's failure was attributed to peer-to-peer car sharing never becoming profitable, according to IdeaProof.⁷ Getaround lost $600M+ in raised capital, according to IdeaProof.⁷ Getaround's customers were left scrambling to find alternative transportation, according to NerdWallet.²

Legal outcomes

• filedFormer Getaround CEO Sam Zaid filed a $1.9 million lawsuit in Puerto Rico, alleging breach of contract and fraud.¹⁷
• settledGetaround and Broadspire entered into a confidential settlement agreement where Broadspire would pay Getaround $15 million by March 14, 2024, and both parties would dismiss the lawsuit with prejudice.¹⁶

Where the founders are now

Sam Zaid, co-founder and former CEO of Getaround, filed a $1.9 million lawsuit in Puerto Rico alleging breach of contract and fraud.¹⁷

Sources

1. Getaround abruptly shuts down US car-sharing operations | TechCrunch, TechCrunch, 2025-02-13
2. Getaround Slams Brakes on U.S. Car Sharing, Leaving Customers Scrambling - NerdWallet, NerdWallet, Dec 18, 20
3. Client Challenge, sfgate.com, Feb 13, 20
4. Client Challenge, sfchronicle.com, Aug 18, 20
5. Getaround Shuts Down Car Rental Services in the U.S. - Tech.az, tech.az, Feb 13, 20
6. Car rental service Getaround shutters U.S. business - San ..., bizjournals.com, Feb 12, 20
7. Test Your Idea in 120s — Free AI Startup Validator | IdeaProof, IdeaProof.io, Nov 30, 20
8. Getaround IPO Timeline and Financing Details - Forge, forgeglobal.com
9. How Much Did Getaround Raise? Funding & Key Investors | Clay, clay.com, Feb 26, 20
10. SoftBank-backed Getaround is raising $200M at a $1.5B+ valuation | TechCrunch, TechCrunch, 2019-09-05
11. Getaround: Funding, Team & Investors, Startup Intros, Jul 13, 20
12. Getaround Car Sharing Platform Raises $200M At $1.7B Valuation | PYMNTS.com, PYMNTS.com, 2019-09-08
13. Getaround Stock for Accredited Investors | Pre-IPO Shares | UpMarket, Alternative Investments Curated for Accredited Investors, 2022-11-17
14. EX-99.1, sec.gov, May 11, 20
16. Confidential Settlement Agreement between Getaround ..., contracts.justia.com
17. Former Getaround CEO sues platform over wrongful ..., newsismybusiness.com, Feb 27, 20

How this case file was put together

Every statement on this page carries a numbered note, and every note points to a court record, a regulatory filing or a named publication in the list of sources. Each statement was checked against the text of the sources it cites before it was published: a figure, a date or a name the cited source does not contain was cut rather than kept. Allegations are shown as allegations, with their status at the time of the source (filed, charged, convicted, pleaded, settled, dismissed or pending). Quoted lessons are the words of the person or publication named with them, copied from the cited source; nothing here is our own opinion of why the company failed.

If a fact on this page is wrong, use "Report an error" below and attach the record that shows the correct fact. Every report is reviewed by a person before anything changes, and a corrected page says when it was last corrected.

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