Getaround, a ride-sharing company based in the Bay Area, has abruptly ceased its U.S. operations citing insufficient liquidity. The announcement was made by interim CEO AJ Lee, who noted that the financial situation rendered the company's domestic activities unsustainable. Following the announcement, nearly all U.S. employees face termination, with layoffs occurring almost immediately. Despite its challenges in the U.S. market, Getaround will continue operations in several European countries where they derive a significant portion of their revenue.
Getaround's abrupt closure of its US operations is attributed to ongoing financial struggles and a lack of liquidity, resulting in the layoff of almost all domestic employees.
The company, previously based in San Francisco, shifted operations to Oakland but eventually deemed the U.S. market unviable, continuing only in select European countries.
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