Articles from Getaround

Net Loss Declines 43% Year-over-Year; Adjusted EBITDA Loss Improves 18%

Getaround (OTCQB: GETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, is pleased to announce that the quotation of its common stock and public warrants, under the symbols “GETR” and “GETRW”, respectively, has been upgraded from the OTC Pink Market to the OTCQB® Venture Market (the “OTCQB”), effective September 4, 2024.

Getaround (OTC: GETR), the world's leading connected carsharing platform, is proud to announce it has achieved ISO 27001 certification. This certification underscores Getaround's commitment to maintaining the highest standards of information security and data protection for our users and partners.

Getaround (OTC: GETR), the world's first connected carsharing marketplace, today announced financial results for the second quarter of 2024 ended June 30, 2024.

Getaround (OTC: GETR) (“Getaround'' or “the Company”), the world's first connected carsharing marketplace, today announced it will release its financial results for the second quarter ended June 30, 2024 after U.S. markets close on Monday, August 12, 2024. Company management will host a conference call and webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss the financial results and provide a corporate update.

Getaround (OTC: GETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced the transition from Tom Aldermen as Chief Financial Officer to Patricia Huerta, CPA, as Interim Chief Financial Officer, effective July 19, 2024. Getaround is grateful for Mr. Alderman’s service and contributions to the company.

Getaround (NYSEGETR) (“Getaround” or “The Company”) today announced it received notice the New York Stock Exchange (“NYSE”) suspended trading of its common stock on the NYSE effective immediately and started the process to delist its common stock from the NYSE. The start of the delisting process follows the NYSE’s determination under Rule 802.01B of the NYSE Listed Company Manual that the Company did not meet the continued listing standard that requires listed companies to maintain an average global market capitalization of at least $15 million over a period of 30 consecutive trading days.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced it received a written commitment from Mudrick Capital Management L.P. (“Mudrick Capital”) to provide $20 million in additional capital on or prior to July 26, 2024, pursuant to the company’s existing debt facility with Mudrick Capital. Getaround also received written notice from Mudrick Capital of its intention to convert a minimum of $10 million worth of its outstanding 8.00%/9.50% Convertible Senior Secured PIK Toggle Notes due 2027 at an as-adjusted conversion price of $0.25 per share, within 45 days after the Company’s 2024 Annual Stockholder Meeting scheduled to take place on July 31, 2024. The amendment of such conversion price to $0.25 per share is subject to stockholder approval at such annual meeting and required pursuant to the terms of the previously disclosed super priority promissory note between the Company and Mudrick Capital.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced that Eduardo Iniguez, Getaround Chief Executive Officer will deliver a presentation and join a fireside chat interview at the following virtual event:

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced three new additions to its Board of Directors. Nikul Patel, Neil Savage and Qais Sharif effective May 6, 2024. They will join existing directors Jason Mudrick, Bruno Bowden, Ravi Narula, Sam Zaid and Chief Executive Officer Eduardo Iniguez on the Board. All three bring extensive public company senior management experience to Getaround’s Board and meet the New York Stock Exchange’s independent director standard, strengthening the Company’s corporate governance.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced financial results for the first quarter of 2024 ended March 31, 2024.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced that its existing debt facility with Mudrick Capital Management has been expanded to provide the company with up to $50 million in additional capital. On April 29, 2024 Getaround drew down the first $20 million of this capital.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced financial results for the year ended December 31, 2023.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world’s first connected carsharing marketplace, today announced the promotion of AJ Lee, Getaround’s former General Manager of Gig, to Chief Operating Officer. In this role, Lee will report to Getaround CEO Eduardo Iniguez, to accelerate the Company's growth and path to profitability. Lee will have broad responsibilities including operations, marketing, sales and other functions to drive operational excellence across the Company.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, announced that on February 26, 2024, its Board of Directors granted to its new Chief Executive Officer, Eduardo Iniguez, employment inducement awards consisting of the following: (i) an option to purchase up to 11,100,000 shares of the Company’s common stock at an exercise price of $0.25 per share, which shares will vest in four annual 25% installments; and (ii) an option to purchase up to 76,950,000 shares of the Company’s common stock at an exercise price of $0.25 per share, which represents approximately 10% of the shares of the Company’s common stock issuable upon conversion of all of Getaround’s outstanding 8.00%/9.50% Convertible Senior Secured PIK Toggle Notes due 2027 (the “PIK Notes”) at an as-adjusted conversion price of $0.25 per share. The amendment of such conversion price to $0.25 per share is required pursuant to the terms of the previously-disclosed super priority promissory note between the Company and Mudrick Capital Management L.P.

Getaround (NYSEGETR) (“Getaround'' or the “Company”), the world’s first connected carsharing marketplace, today announced that its Board of Directors has appointed former Silvus Technologies CFO and former Getaround SVP of Finance, Risk & Strategy Eduardo Iniguez as CEO, effective immediately. Iniguez also joined the Getaround Board of Directors. In connection with this change, Jason Mudrick, Founder and Chief Investment Officer of Mudrick Capital, which led Getaround’s January 2024 financing, was appointed Chairperson of the Board. Getaround’s outgoing CEO, Sam Zaid, will continue to serve as a member of the board of directors.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world's first connected carsharing marketplace, today announced the Company will restructure its workforce and operations to reduce costs and align with the globalization of the Company’s carsharing business, as it strives to lengthen its cash runway and accelerate its path to profitability.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced a new debt facility with Mudrick Capital Management for up to $20 million in additional capital to provide funding for its 2024 operating plan, with Getaround having drawn the first $5 million.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced financial results for the period ended September 30, 2023.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced a new innovative alliance with TransUnion NYSE: TRUNYSETRU)

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced the results of a recent survey conducted in collaboration with market research firm YouGov to uncover the frustrations New Yorkers have with waiting at the rental car counter as the busy summer travel season officially kicks off. Interestingly, more than eight in 10 (81%) Millennial and Gen Z New Yorkers would rather do at least one of the following than stand in line at the rental car counter:

Getaround (NYSEGETR) (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced Getaround TrustScore v2.0, a proprietary next-generation artificial intelligence (AI) model to improve the safety and economics of its carsharing marketplace. Preliminary results indicate a cost savings of up to 50% of claims and insurance expense — one of the Company’s largest cost centers.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world's first connected carsharing marketplace, today announced the appointments of Eduardo Iniguez, Senior Vice President of Finance & Strategy, and AJ Lee, Vice President of Gig Marketplace.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced the Company has closed on its acquisition of substantially all of the assets of HyreCar (OTC: HYRE), a premier gig carsharing marketplace.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced the company is acquiring substantially all of the assets of HyreCar (OTC: HYRE), a premier gig carsharing marketplace, for an aggregate purchase price of $9.45 million. The acquisition is expected to add up to $75 million of run-rate annualized Gross Booking Value and to contribute positive Adjusted EBITDA, accelerating Getaround’s path to profitability. Adjusted EBITDA is a non-GAAP financial measure, as further described under “About Non-GAAP Financial Measures'' below.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced new onboarding incentives to reaffirm its commitment towards making carsharing easier – not harder – for its Hosts (car owners). Following an industry competitor’s recent departure from CarSync and other fleet management tools, Getaround is pleased to offer the following onboarding incentives to owners who used CarSync and are now ready to move their fleets over to Getaround:

Getaround (NYSEGETR) (“Getaround” or “the Company”), the world’s first connected carsharing marketplace, today announced that on April 18, 2023, it received notice from the New York Stock Exchange (“NYSE”) indicating that Getaround was not in compliance with the continued listing standard set forth in Section 802.01E of the NYSE Listed Company Manual, which requires timely filing of all required periodic reports with the Securities and Exchange Commission (the “SEC”), because of the Company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Annual Report”). As previously disclosed in a Notification of Late Filing on Form 12b-25 filed with the SEC on March 31, 2023, Getaround was unable to file its Annual Report by the applicable due date as it requires additional time to certain open audit and technical accounting matters, including items related to preliminary purchase price allocation of the InterPrivate II Merger and consolidation of Getaround’s results into InterPrivate II’s financial statements. The April notice has no immediate impact on the listing of Getaround’s common stock.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced a special Earth Day promotion that offers new guests in the United States 20% off (up to $20) per trip, which can be used up to five times ($100 value) during the four-week period from April 13 to May 7. The goal is to promote awareness of the environmental benefits of the carsharing business model and help reduce the number of cars on the road, while significantly lessening the emissions of greenhouse gasses (GHGs) and other harmful substances into the environment.

Getaround, Inc. (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced selected preliminary unaudited financial results for its full year ended December 31, 2022 and provided an initial outlook for the full year 2023.

Getaround (NYSEGETR), the world's first connected carsharing marketplace, today announced the installation of 83 additional carshare locations as part of its new, expanded participation in the New York City Department of Transportation’s (“DOT”) carsharing program.

Getaround (NYSEGETR), the world’s first connected carsharing marketplace, today announced its collaboration with the City of Las Vegas to increase residents’ access to reliable transportation through carsharing, addressing issues related to local area traffic, pollution, and greenhouse gasses.

Getaround (NYSEGETR) (“Getaround'' or “the Company”), the world's first connected carsharing marketplace, today announced the Company will streamline operations and reduce costs to achieve a leaner path to profitability. These changes also include a workforce reduction, effective immediately, that impacts approximately 10% of the Company’s current staff. The restructuring plan also includes significant reductions to other operating expenses, including reducing the Company’s contract workforce, and outside professional services. This revised global business strategy is intended to fortify the Company’s path to achieve sustainable profitability and long-term growth. Together, these reductions to the Company's operating expenses are estimated to result in cost savings of between $25 and $30 million on an annualized run-rate basis.

Getaround (NYSEGETR) (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced that on January 30, 2023, it received notice from the New York Stock Exchange (“NYSE”) indicating that Getaround is not in compliance with NYSE’s continued listing standards because the average closing price of Getaround's common stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of Getaround’s common stock from the NYSE.

Getaround (NYSEGETR) (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced it has hired Brian Jackson as Senior Vice President of Engineering. Bringing more than 35 years of experience to Getaround, Jackson took up his new role in January of this year.

Getaround (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced the Company has completed its previously announced business combination (“the Business Combination”) with InterPrivate II Acquisition Corp. (NYSEIPVA) (“InterPrivate II”).

SAN FRANCISCO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Getaround (“the Company”), the world's first connected carsharing marketplace, today announced the Company recently reached the landmark of now operating in more than 1,000 cities across the United States and Europe.

Carsharing Leader Will Provide Atlanta-Area Voters with Discounted Transportation for In-Person Voting and Ballot Dropoff Through December 6

Tom Alderman succeeds Laura Onopchenko as CFO; Ravi Narula will join as Director and Audit Committee Chair upon closing of the transaction

Special meeting to approve business combination scheduled for December 7, 2022

Provides Voters with Discounted Transportation on Election Eve and Election Day

Travelers in Top U.S. Cities Searching on KAYAK Now Able to Book Cars on the Getaround Platform;Easily Unlocking Cars and Trucks with Their Phones

Getaround, the world's leading digital peer-to-peer carsharing marketplace, today announced that the groundbreaking Peer-to-Peer Car Sharing Program Act will now allow the platform to be widely available for all New Yorkers. At today’s press conference, city and state representatives, including Lincoln Restler, Andrew Gounardes and Carlina Rivera spoke alongside Getaround executives to share how this shift will enable New York residents to access a convenient, contactless, sustainable, and affordable mobility solution via carsharing.

Getaround, the world's leading digital carsharing marketplace, today announced that the company is expanding operations in the city of Seattle, Washington to increase residents’ access to reliable transportation with expanded carsharing. The company has collaborated with the Seattle Department of Transportation (SDOT) to bring carshare vehicles to dedicated parking spaces across the city.

Getaround, the world's leading digital car sharing marketplace, today announced a partnership with the City of Salem, Massachusetts, to increase access to reliable transportation and address, through car sharing, issues related to traffic, pollution, and congestion. Salem is one of over 950 cities worldwide in which Getaround is active. Guests have taken nearly six million car trips using cars shared on Getaround.

Getaround (“Getaround” or “the Company”), the world’s leading global and digital carsharing marketplace, and InterPrivate II Acquisition Corp. (“InterPrivate”) (NYSEIPVA), a publicly-traded special purpose acquisition company, entered into a definitive business combination agreement that will result in Getaround becoming a public company upon completion of the transaction. Upon closing, the combined company is expected to be listed on the New York Stock Exchange under the new ticker symbol “GETR.” The combined company will be led by Getaround Founder and CEO, Sam Zaid.