Getaround IPO

Getaround was founded in 2009 by Elliot Kroo, Jessica Scorpio, and Sam Zaid. In 2021, Reuters reported that the company was engaged in talks with special purpose acquisition company Altitude Acquisition Corp, suggesting that the company has plans to go public through a SPAC rather than an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.

Getaround is a carsharing service that allows users to rent out their cars to others. The company states that they are "currently in 300 cities and 7 countries with 5 million users and 1000+ car models." The company rebounded quickly from lockdowns as people continued to avoid public transportation and traditional rideshare services. According to a company press release, Getaround raised $160 million in its most recent round of funding, bringing their total funding close to $600 million. Investors include PeopleFund, Reinvent Capital, Pennant Investors, and SoftBank Vision Fund. A round of four new executive hires coincided with the successful round of funding. In 2019, the company acquired Drivy, Europe's primary carshare provider, and Nabobil.no, a Norwegian carshare service. The company has been valued at $1.9 billion.