Getaround, a peer-to-peer car rental service, is closing its U.S. operations due to challenges following a public listing and a recent workforce reduction. The company will now concentrate on its European market, where it operates in six countries, following the closure of its HyreCar acquisition. Customers are instructed to return rentals soon to retain coverage. Getaround has a storied history of significant investment, raising over $750 million and acquiring companies, but ultimately faced operational hurdles and market challenges leading to this significant shift.
Getaround's U.S. operations are shutting down as the company pivots its focus to Europe, following significant workforce reductions and challenges after going public.
Despite raising over $750 million and expanding internationally, Getaround has struggled, facing a delisting notice just months after its public listing.
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