HyreCar expands to Vermont, now in all 50 states

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HyreCar expands to Vermont, now in all 50 states

Fri, 11/09/2018 - 3:29am -- tim

Vermont Business Magazine Uber and Lyft drivers now have vehicle rental solutions nationwide. HyreCar Inc (Nasdaq: HYRE), the carsharing marketplace for ridesharing, has announced the company has expanded access to its proprietary platform for drivers and vehicle owners in Vermont and all 50 US states. This expansion represents an increase from the company’s previously announced availability in 34 states. The Company has added Delaware, Oklahoma, Nebraska, Arkansas, Rhode Island, New Hampshire, New Mexico, Maine, Idaho, South Dakota, Alaska, North Dakota, Vermont, Montana, West Virginia and Wyoming to its carsharing marketplace platform.

“We expect this expansion to add at least 25% in incremental 2019 revenue,” said Joe Furnari, CEO of HyreCar. “Our technology driven marketplace allows us to expand into these states overnight. By leveraging the current staff and technology already in place, each new state becomes directly accretive to our bottom line.”

In addition to its peer-to-peer services, these new states will showcase the Company’s ability to ramp inventory through HyreCar’s commercial division, DriveItAway, focused on dealer based shared mobility. The Company has a backlog of over 200 multi-location dealerships interested in adding cars to the marketplace. With this announcement, HyreCar is positioned to continue building the ridesharing industry, which is estimated to grow eightfold to $285 billion by 2030.

“This is a historical moment for HyreCar,” added Abhi Arora, Co-Founder of HyreCar. “As a Founder, it is extremely gratifying to have grown the Company’s presence from 4 to 50 states in just three years. Our mission has always been to build roads to financial freedom – I can proudly say that this opportunity is now available to everyone regardless of a driver or vehicle owner’s state of residency,” concluded Arora.

About HyreCar

HyreCar Inc (Nasdaq: HYRE) is the carsharing marketplace for ridesharing through its proprietary technology platform. The Company is establishing a leading presence in Mobility as a Service (MaaS) through vehicle owners and institutions, such as dealers and OEM’s, who have been disrupted by automotive asset sharing. HyreCar currently operates in all 50 U.S. states and Washington, D.C., providing a unique revenue opportunity for both owners and drivers. By providing a safe, secure, and reliable marketplace, HyreCar is transforming the industry – one driver, one vehicle, one road at a time.

Source: LOS ANGELES--(BUSINESS WIRE)--HyreCar Inc www.hyrecar.com.