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Car-Sharing Startups Emerge From Pandemic With New Lease on Life

  • Getaround, Turo look to raise money as investor interest rises
  • Companies could thrive even as self-driving cars take hold
The Getaround app
Photographer: Gabby Jones/Bloomberg

A pair of car-sharing companies that have outlasted more-established challengers and survived the pandemic are looking to bolster their balance sheets by tapping into Wall Street’s fascination with auto-related startups.

Much like Airbnb Inc. revolutionized the concept of overnight accommodations, peer-to-peer platforms create a market for car-sharing to link parked vehicles with those in need of a ride. The concept has been around for years: Two of the larger players, Getaround Inc. and Turo Inc., were both launched more than a decade ago and have become part of the growing mobility industry.