RelayRides, the US’ largest peer-to-peer (P2P) car sharing marketplace, acquired peer-to-peer car sharing platform Wheelz. Wheelz’ intellectual property, including its proprietary DriveBox technology, provides technology that can make peer-to-peer sharing more convenient and facilitate frictionless rentals.
DriveBox allows renters to reserve, find, and unlock a car in minutes all from a smartphone, without having to meet with the owner in person. Wheelz first introduced its service on college and university campuses throughout California before expanding to the urban centers of San Francisco and Los Angeles.
The acquisition of Wheelz brings new talent, technology and resources that bring us even closer to our companies’ shared goal of having a car within a 10-minute walk for at least 100 million Americans by the end of 2015. Given our mutual vision to revolutionize personal mobility, we are well positioned to immediately enhance our members’ experience and turbo-charge the growth of peer-to-peer car sharing.—Andre Haddad, CEO of RelayRides
Since its national launch in 2012, RelayRides’ marketplace has grown to serve tens of thousands of members using thousands of cars in more than 1,500 cities in all 50 states. Rental reservation volume increased 500%, and active vehicle listings have grown 530% to include more than 500 unique makes and models of cars and trucks.
RelayRides has raised more than $13 million in venture capital funding from investors including Google Ventures, August Capital, Shasta Ventures and General Motors Ventures.