car sharing
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Turo, the peer-to-peer car-sharing startup, has initiated the confidential process of filing for an initial public offering with the U.S. Securities Exchange Commission.
The number of shares to be offered in the IPO and the price range have not yet been determined, the company said in a statement. Turo declined to provide additional information to TechCrunch.
The eleven-year-old Turo’s marketplace is analogous to Airbnb, letting car owners post an ad to rent out their vehicle on its app and website. Cars are available to rent in more than 5,500 cities across three countries. Turo was in Germany after taking over Daimler AG’s car-sharing subsidiary Croove alongside an investment deal. The company is no longer in Germany.
The company had a $250 million Series E in July 2019, which pushed the company into unicorn status and “past the billion-dollar valuation mark,” CEO Andre Haddad said in a blog post. Turo followed that up with a $30 million extension round the following February, bringing its total funding to date to over $500 million.
Turo did not have a completely smooth ride during the pandemic; like other transportation startups Bird and Getaround, Turo laid off 30% of its workforce, or 108 employees, in March 2020 according to data tracker Layoffs.fyi.
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Jen Young and Jeff Cavins were sitting in a beige conference room at a downtown Vancouver hotel, wasting away under fluorescent lights, an endless PowerPoint and a pair of sad Styrofoam cups of coffee between them. Young was there on a marketing contract. Cavins was a board member. They shared one of those looks that only couples can understand. It said: There’s got to be something better than this.
With 40 years of running technology companies under Cavins’ belt and a successful ad agency career under Young’s, the two decided to craft a business around their shared passion of being out in nature. When they realized there are more than 20 million recreational vehicles all across the U.S., most of which are used only a handful of days, they saw an opportunity. They asked themselves: How do we create memorable outdoor experiences and make them available to everybody?
For seven months, the couple traveled across the U.S. to do market research on travelers and RV owners to form the basis of their company.
The sharing economy of Uber, Lyft and Airbnb had already laid the groundwork. Why not open it up to RVs?
In 2014, Young and Cavins invested their life savings into Outdoorsy, sold their homes and jumped into an Airstream Eddie Bauer trailer. For seven months, the couple traveled across the U.S. to do market research on travelers and RV owners to form the basis of their company.
In June, Outdoorsy raised $90 million in a Series D led by ADAR1 Partners, as well as an additional $30 million in debt financing from Pacific Western Bank. The money will be used in large part to accelerate the growth of Outdoorsy’s insurtech business, Roamly. In the same month, the company announced a partnership with glamping company Collective Retreats to expand its outdoor offerings.
The following interview, part of an ongoing series with founders who are building transportation companies, has been edited for length and clarity.
You’ve taken a personal approach to your business, spending months in the research phase actually living in an RV and interviewing RV owners and their families around the country. How do you think that’s shaped your business?
Jen Young: When we lived on the road, we had to experience that customer experience every day for hundreds of days. So this is where we were able to pick up and identify what the biggest pain points were on the renter and the owner side and start tackling those first.
For example, we understood what was most important from an insurance perspective because we could hear the voices of renters and owners — they consider these things their babies in many cases.
The owners that are more entrepreneurial-minded, they consider them more of a business asset, but both of them want to know, “What am I going to get for liability insurance? Comp and collision? Interior damage?” The detailed list of those things became the beginning of the product roadmap, as well as itemizing what things have to occur for a good guest experience.
In what ways have you had to pivot your model based on how people have used your platform?
Cavins: One of the things we learned is most renters don’t want to drive these things, so owners started to do delivery, which became very popular on our platform. Sixty percent of all owners now will just deliver and set up for you so you can arrive at your campsite and everything’s just done. Your chairs are out, your barbecue is out, your awning is out and maybe a bottle of champagne in your fridge for you.
When Jen and I were traveling last year, we saw that most of the American landscape of campgrounds and campsites were overbooked. People couldn’t get their reservations closed the way that you would expect in a world of technologically evolved industries, and we thought there had to be something better in terms of the customer experience for camping, which really catalyzed our investment in glamping company Collective Retreats.
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Royal Dutch Shell, the energy giant known for its fossil fuel production and hundreds of Shell gas stations, is creeping into the electric vehicle-power business.
The company’s first DC fast charger from its newly acquired company Greenlots launched Monday at a Shell gas station in Singapore. Greenlots, an EV charging startup acquired by Shell in January, installed the charger. This is the first of 10 DC fast chargers that Greenlots plans to bring to Shell service stations in Singapore over the next several months.
The decision to target Singapore is part of Greenlots’ broader strategy to provide EV charging solutions across all applications throughout Asia and North America, the company said. Both Shell and Greenlots have a presence in Singapore. Greenlots, which is based in Los Angeles, was founded in Singapore; and Shell is one of Singapore’s largest foreign investors.
Singapore has been promoting the use of electric vehicles, particularly for car-sharing and ride-hailing platforms. The island city-state has been building up its EV infrastructure to meet anticipated demand as ride-hailing drivers and commercial fleets switch to electric vehicles.
Greenlots was backed by Energy Impact Partners, a cleantech investment firm, before it was acquired by Shell. The company, which combines its management software with the EV charging hardware, has landed some significant customers in recent years, notably Volkswagen. Greenlots is the sole software provider to Electrify America, the entity set up by Volkswagen as part of its settlement with U.S. regulators over its diesel emissions cheating scandal.
Clarification: Shell has other EV chargers. These are the first through its newly acquired company Greenlots.
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Making good on plans revealed last year to debut an EV-exclusive car sharing service, Volkswagen is actually launching its fleet for customers – debuting WeShare, a new shared service similar to Car2Go or GM’s Maven, but featuring only all-electric vehicles. Initially, WeShare will be available only in Berlin, where it’s launching today with 1,500 Volkswagen e-Golf cars making up the on-demand rental fleet.
The plan is to add 500 more cars to the available population by early next year, specifically the e-up! electric city company car, and then it’ll also play host to the brand new ID.3 fully electric car when that’s officially launched. VW is still targeting the middle of next year for a street date for that vehicle, which is part of its all-new ID line of vehicles designed from the ground-up based on its next-generation electric vehicle platform. In terms of new geographies, WeShare will look to launch In Prague (in partnership with VW Group sub-brand Skoda) and also in Hamburg, both some time in 2020.
WeShare has a coverage area that includes the Berlin city centre and a little bit beyond the Ringbahn train line that encircles it. The cars are available in a “free-floating” arrangement, meaning they’ll be free to pickup and park wherever public parking is available. This one-way model, which is the one used by competitor Car2go, is distinct from the round-trip style rentals preferred by Zipcar, for instance. It’s more convenient for customers, but more of a headache for operators, who have to worry about ensuring cars remain in the rental zone and are parked appropriately and legally.
WeShare will also take responsibility for recharging the vehicles as needed, and will do so using the public charging network that’s available in Berlin, but later on it will seek to incentive actual users of the system to charge up when vehicles need it.
Car sharing, especially one-way, has had a hit-and-miss track record to date. Car2go shuttered operations in Toronto, for instance, due to incompatibility with city operations regarding parking in the case of Toronto. VW notes in a release that in Berlin, however, the number of car sharing users has grown from 180,000 people in 2010 to 2.46 million in early 2019.
Volkswagen also owns and operates a fully-electric ridesharing service called MOIA, which has built its own fit-for-purpose vehicle and which currently operates in Hamburg and Hanover. Last year, VW said the two mobility service operations, which offer very different service models, will work together in future.
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This week on Extra Crunch, I am exploring innovations in inclusive housing, looking at how 200+ companies are creating more access and affordability. Yesterday, I focused on startups trying to lower the costs of housing, from property acquisition to management and operations.
Today, I want to focus on innovations that improve housing inclusion more generally, such as efforts to pair housing with transit, small business creation, and mental rehabilitation. These include social impact-focused interventions, interventions that increase income and mobility, and ecosystem-builders in housing innovation.
Nonprofits and social enterprises lead many of these innovations. Yet because these areas are perceived to be not as lucrative, fewer technologists and other professionals have entered them. New business models and technologies have the opportunity to scale many of these alternative institutions — and create tremendous social value. Social impact is increasingly important to millennials, with brands like Patagonia having created loyal fan bases through purpose-driven leadership.
While each of these sections could be their own market map, this overall market map serves as an initial guide to each of these spaces.

These innovations address:
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Renault’s EZ-GO is less concept car than a full transportation service concept design. The vehicle revealed at the Geneva Motor Show this week is a fully autonomous electric car that can’t travel fast, but that does fit as many as six passengers through a big, almost garage-like door that opens up to load people and goods easily. The EZ-GO is designed for use in urban… Read More
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Yesterday I wrote about a poll conducted by researchers at the University of Michigan that found people were interested in flying cars if they were autonomous, shared and electric. As soon as I posted that, I found an email in my inbox saying that ChargePoint and Uber Elevate, among others at the recent conference on flying vehicles, had partnered to prepare for just that exact scenario. Read More
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Welcome to the second episode of TechCrunch’s newest podcast, Equity, our venture capital-focused show focused on the numbers, people and companies driving the technology industry. This week, TechCrunch’s Katie Roof, Matthew Lynley, and myself were joined by special guest Elizabeth “Beezer” Clarkson from Sapphire Ventures. We discussed the potential for rising… Read More
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Former Uber engineer Susan Fowler Rigetti’s story of sexual harassment and HR complicity at the company has drawn a lot of attention from the outside world as many relate to her frustrations and the broader systemic culture of sexism that manifests itself across the tech industry. In the days since Rigetti published her account, decisions have been made both inside and outside of… Read More
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