Getaround Inc. has acquired Paris-based Drivy SAS for $300 million, marking its entrance into the European car-sharing market and reinforcing its commitment to reducing urban car ownership.

Information on the Target

Getaround Inc., a prominent U.S. car-sharing company based in San Francisco, has recently acquired the European car-sharing platform Drivy SAS for $300 million. This acquisition marks Getaround's strategic expansion into the European market, enhancing its efforts to promote alternatives to car ownership in urban environments. Drivy, founded in 2010 and headquartered in Paris, has become immensely popular across Europe, serving over 170 cities and attracting approximately $60 million in investment from various notable investors.

Drivy's platform operates similarly to Getaround's, providing users with a mobile application that facilitates the rental of personal vehicles. The company has effectively capitalized on the growing trend among urban residents who are increasingly opting for shared mobility solutions rather than traditional car ownership.

Industry Overview in France

The car-sharing industry in France reflects an evolving transportation ecosystem, driven by a significant shift in consumer preferences towards sustainable mobility options. Increasing urban congestion and environmental concerns have le