Welcome to our dedicated page for Getaround news (Ticker: GETR), a resource for investors and traders seeking the latest updates and insights on Getaround stock.
Getaround, Inc. (GETR) is publicly described as the world’s first connected carsharing marketplace, and its news flow reflects both operational developments and capital markets events. The company’s announcements highlight its peer-to-peer platform, which uses proprietary cloud and in-car Getaround Connect® technology to enable a digital, contactless experience for sharing cars and trucks.
Recent news has included significant strategic updates, such as Getaround’s February 2025 disclosure that it plans to commence an orderly wind-down of its U.S. business operations, including its car-share and HyreCar businesses, while continuing to operate its European car-sharing business in current European markets. The company has also reported restructuring efforts, cost optimization initiatives, and leadership changes, including appointments to interim executive roles and additions to its board of directors.
Investors following GETR news will find regular financial results releases that discuss service revenue, lease revenue, Gross Booking Value, Trip Contribution Margin, and Adjusted EBITDA. These updates provide detail on how the company evaluates its performance and describe trends in its marketplace activity. Other items in the news stream include financing arrangements with Mudrick Capital Management L.P., commitments for additional capital, and information about the trading status of Getaround’s common stock, including the suspension of trading on the New York Stock Exchange and subsequent quotation on the OTC Markets platform, with an upgrade to the OTCQB Venture Market.
This news page aggregates these types of announcements so readers can review Getaround’s operational updates, strategic decisions, financing developments, and regulatory communications in one place. For those analyzing GETR, the news feed offers context on the company’s shift in focus toward European markets, its restructuring actions, and its ongoing status as a public reporting company.
Roamly, an API-enabled digital insurance platform, announced the launch of its proprietary Carshare Insurance product, aimed at commercial fleet vehicle operators. Named Roamly Carshare, the new product offers customized coverage for carsharing users during both rental and non-rental periods. This integration aims to help car-sharers by removing premiums for non-utilized features, thus enhancing profitability. Roamly's Carshare Insurance is now live on Getaround, a leading car-sharing marketplace. The global car sharing market is poised to hit $51.7 billion by 2030, making this launch timely and significant. Roamly's CEO, Jeff Cavins, emphasized the importance of this partnership in supporting the shift toward eco-friendly transportation.
Getaround (NYSE: GETR) announced the appointment of three new independent directors to its Board of Directors, Nikul Patel, Neil Savage, and Qais Sharif. These individuals bring significant expertise in governance, strategy, and product development. The new directors meet the New York Stock Exchange's independent director standard, enhancing the Company's corporate governance.
Getaround (NYSE: GETR) released its first quarter 2024 financial results, showing a 49% increase in total revenues and a 41% increase in gross booking value year-over-year. The company underwent a leadership transition, raised additional capital, and streamlined operations to focus on profitable growth. Despite a GAAP net loss of $31.0 million, the company is optimistic about future growth opportunities.
Getaround (NYSE: GETR) has secured up to $50 million in additional financing through an expanded debt facility with Mudrick Capital Management. The company drew down the first $20 million on April 29, 2024. The financing is expected to fund operations and growth investments into 2025. Getaround's CEO, Eduardo Iniguez, highlighted the company's proactive leadership team transition and operational restructuring to achieve a sustainable business model for profitable growth. Mudrick Capital's financial support reflects confidence in Getaround's strategic plans and untapped market opportunities.
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