Tag: RelayRides

Congratulations to CEO and founder of RelayRides, Shelby Clark, and his team for launching the neighbor-to-neighbor carsharing service to San Francisco, and counting Google Ventures and August Capital as backers.  Here’s a snapshot of the story:

The trend:
There’s a massive shift in society from ownership to access. For example, people are happy renting DVDs from Netflix vs. buying DVDs, AirBNB allows members to rent other member’s houses, and Chegg lets students rent textbooks. There’s even a movement and book “What’s mine is yours. The rise of collaborative consumption.”  How about applying this to cars?

The situation:
The combined cost of owning a car – fuel, maintenance, financing and insurance – amounts to an average of over $600 a month/$20 a day, according to AAA. Meanwhile, most cars sit idle for 23 hours a day.

The opportunity:
Carsharing helps the environment: the average shared car takes 14 vehicles off the road, plus it reduces miles traveled, congestion, pollution, and lowers the carbon footprint to build new cars. Carsharing is a $12.5 billion global market and rapidly gaining popularity.

The solution:
RelayRides brings this global carsharing trend to the hyperlocal level allowing neighbor-to-neighbor carsharing. Car owners feel good because they are helping their neighbor get around. Car borrowers feel good because they know they are helping their neighbor make money. It’s like they are supporting their local small business.

Good company:
Google Ventures and August Capital funded RelayRides.

Wheels of Fortune:
RelayRides provides car owners a platform to safely lend their cars to their neighbors for a fee, while providing convenient, affordable access to neighbors who need the occasional use of vehicles. They make it possible by providing the insurance (a $1 million supplemental insurance policy covers the rental period) and technology for a safe, convenient, hassle-free transaction. Car owners make an average of $200/month.

Sharing is Caring:
Rather than putting new cars on the road like other carsharing services, the company goes the eco-friendly route by leveraging existing cars that are often idle. This allows neighbors to help each other as car owners can recover some of the costs of owning an expensive asset, while also providing a new transportation option for those in need of a car.

What users are saying:
Anthony Burdi, a 2009 Prius owner in Boston:
“It’s the perfect thing for me. It’s a good way to earn revenue from my car when I’m not using it, which helps me pay for gas, insurance and other running costs. At the same time, I’m helping a neighbor by providing them access to a car. I never thought of it and kind of wish I had, because it’s a great business to be in.”

Caterina Rindi, owner of a Toyota Prius, of San Francisco’s Potrero Hill neighborhood:
“Car sharing between neighbors is great for San Francisco, as it will lead to fewer new cars on the road, which will help decrease congestion and pollution. That’s why I’m delighted to make my Prius available via RelayRides – it’s good for me, for my neighbors, and for my city.”

Congratulations to the team at RelayRides, the world’s first neighbor-to-neighbor carsharing service – last week they announced that Shasta Ventures and sharing economy expert, entrepreneur and “The Mesh” author Lisa Gansky joined Google Ventures and August Capital in boosting the company’s total Series A.2 funding to $10 million.

RelayRides also announced they are expanding throughout San Francisco and Boston proper, enabling more people to choose access over ownership.

One of the key differences in RelayRides neighbor-to-neighbor car sharing service is that it not only provides a $1 million per transaction insurance policy to car owners, but also provides security technology to give owners the assurance that their car won’t end up in the wrong hands.

Coverage highlights included:

 

On March 5th, RelayRides, the world’s first consumer-to-consumer car sharing service, announced a major expansion that separated the company from its competitors, making it the most widely available service on the US market.

RelayRides, which recently was named by Fast Company as one of the most innovative companies, is the pioneering car sharing company that lets owners earn an average of $250 per month by loaning their normally unused car to neighbors. Borrowers gain access to a vehicle, right in their own neighborhood, for as little as $5 per hour. According to research firm Gartner, 10 percent of the U.S. urban population will use shared cars instead of personally owned vehicles. And, for every car currently enrolled in a car sharing program, 14 are removed from the road making it an environmentally friendly alternative.

To amplify the announcement, the Consort team not only reached out to print and online media, but we also contacted both local and national broadcasters across America, resulting in unprecedented coverage.  Above is a snapshot of TV segments, spanning The Today Show to local affiliates from Chicago to Philadelphia and  beyond.

Congratulations to Shelby Clark, founder of RelayRides, and the team for bringing car sharing to the masses.