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Uber Carshare

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Uber Carshare
Company typeSubsidiary
IndustryTransportation
Founded2012, in Sydney, NSW, Australia
FounderWill Davies, David Trumbull, and Chloe Iliffe
Defunct12 September 2024
FateOperational difficulties relating to insurance and theft risk.
HeadquartersSydney, NSW, Australia
Area served
Sydney, Melbourne, Brisbane, Perth, Adelaide, Tasmania, Canberra, Gold Coast, Sunshine Coast, Newcastle
Key people
Will Davies (Founder & CEO) & , Dave Trumbull (Founder & CTO), Chloe Iliffe (Founder), Merryn Clancy (COO)
ServicesPeer-to-peer carsharing
ParentUber
Websitewww.ubercarshare.com

Uber Carshare was an Australian company that facilitated peer-to-peer car rental, a system by which individuals may rent privately owned vehicles[1][2] on an hourly or daily basis to other registered users of the service.[3][4][5]

History

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Established in 2012 as Car Next Door,[6] it operated in all Australian capital cities as well as the Gold Coast, Sunshine Coast and Newcastle.[7][8][9]

Caltex Australia (later Ampol) invested A$2.5 million in the company in 2016.[10] Ampol sold its 17.2% interest for A$16.7 million on 24 December 2021.[11]

Hyundai invested in the company in 2019,[12] and listed a number of its electric Ioniq vehicles for sharing through the platform.

On 20 January 2022, the company was acquired by Uber for an undisclosed sum, but believed to be $105 million.[13][14][15][16] This was Uber's first Australian acquisition. The company continued operating independently following Uber's takeover with co-founder Will Davies as the chief executive until November 2022 when it was rebranded as Uber Carshare.[17]

In August 2024, Uber announced that Uber Carshare would cease operations in the following month citing rising costs and 'operational challenges'.[13]

See also

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References

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  1. ^ "Car Next Door goes 'Minority Report' on bad actors (not Tom Cruise)". Australian Financial Review. 21 June 2021. Retrieved 4 August 2021.
  2. ^ Fitzsimmons, Caitlin (22 October 2017). "Car ownership the norm, despite the rise in car sharing". The Sydney Morning Herald. Retrieved 13 May 2022.
  3. ^ Sydney Morning Herald. ″Drive thy neighbour's car ... or just rent it″. Archived 10 October 2012 at the Wayback Machine Nicole Hasham, October 6, 2012.
  4. ^ Daily Telegraph. "Dollars drive car share scheme to be launched in Bondi and Paddington″. Shae McDonald, Sydney, August 8, 2012.
  5. ^ Carey, Alexis (14 August 2020). "Car Next Door: Man earns $6K a month from car rental service". news.com.au. Retrieved 12 May 2022.
  6. ^ "How Car Next Door went from a gutsy Shark Tank pitch to an Uber acquisition". SmartCompany. 21 January 2022. Retrieved 5 March 2024.
  7. ^ "Neighbour to Neighbour Car Sharing Hits the Gold Coast | Car Next Door". Car Next Door. 7 November 2017. Retrieved 15 January 2018.
  8. ^ "Would you rent your personal car to a tourist? What if there was a $1,000 incentive?". www.abc.net.au. 22 May 2021. Retrieved 4 August 2021.
  9. ^ Juanola, Marta Pascual (15 August 2019). "Perth's motoring costs could plummet as 'Airbnb of cars' launches". WAtoday. Retrieved 21 November 2019.
  10. ^ "How this Sydney startup secured a $2.5 million investment from a corporate giant". SmartCompany. 3 March 2016. Retrieved 20 November 2022.
  11. ^ "2021 Annual Report" (PDF). Australian Securities Exchange. Ampol. 21 February 2022. p. 95,128. Retrieved 20 November 2022.
  12. ^ Hill, Joshua S. (19 September 2019). "Hyundai invests into Car Next Door car-share platform, with eye on electric". The Driven. Retrieved 13 May 2022.
  13. ^ a b "Uber Careshare to fold globally within a month". 22 August 2024.
  14. ^ Ross, David (20 January 2022). "Uber buys Australian car-sharing tech start up Car Next Door". The Australian. Retrieved 23 January 2022.
  15. ^ Kruger, Colin (20 January 2022). "Uber spreads its wings in Australia as it snaps up Car Next Door". The Sydney Morning Herald. Retrieved 13 May 2022.
  16. ^ "Uber acquires Aussie car-sharing startup Car Next Door". SmartCompany. 20 January 2022. Retrieved 13 May 2022.
  17. ^ Tabassum, Mashuka (18 October 2022). "Uber ventures into carsharing by taking over Aussie enterprise". News.com.au. Retrieved 29 November 2022.
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