Google-Backed RelayRides Lets Vehicle Owners Rent Cars for Cash
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RelayRides, a startup backed by Google Inc.’s venture arm and August Capital, is opening up shop in San Francisco today, letting the city’s residents make money from their cars by sharing them with strangers.
The company is building on a trial run in Massachusetts, where 50 participants are renting out vehicles to 1,000 borrowers. The concept works like Zipcar Inc. and other services that use the Web to rent cars by the hour, except RelayRides doesn’t have to buy its own fleet.