Car-sharing startup Getaround raises $140 million as business recovers from pandemic low

, 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.

Getaround’s business suffered during the initial outbreak of the novel coronavirus in March and April, when demand dropped 75% and the company sought financial support from a U.S. pandemic aid program. Media reports at the time also said Getaround was actively seeking a buyer. “This round of funding really helps us achieve our goal of profitability,” Zaid said, adding that the money would be used to grow existing markets. He declined to provide a profitability timeline, but said more recently people’s desire to escape their homes for trips caused revenue to more than double from pre-pandemic times.

405 is looking good, prolly because people are staying home!🤩

nice

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