Getaround Acquires HyreCar Assets to Accelerate Profitability Path and Fortify Worldwide Gig Carsharing Leadership Position

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May 11, 2023

Getaround (NYSE: GETR), the world's first connected carsharing marketplace, today announced the company is acquiring substantially all of the assets of HyreCar (OTC: HYRE), a premier gig carsharing marketplace, for an aggregate purchase price of $9.45 million. The acquisition is expected to add up to $75 million of run-rate annualized Gross Booking Value and to contribute positive Adjusted EBITDA, accelerating Getaround’s path to profitability. Adjusted EBITDA is a non-GAAP financial measure, as further described under “About Non-GAAP Financial Measures'' below.