Getaround braves chilly public markets with SPAC combination • TechCrunch


This column would like to apologize for somehow missing the buildup to Getaround‘s SPAC combination, which was voted on yesterday and began trading this morning. I don’t know how we managed to get so far behind on this particular news item, but we will rectify our tardiness today.

The Exchange explores startups, markets and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

Getaround allows consumers to rent cars from one another, taking a cut on the transactions. As you can imagine, it’s a marketplace-style company. And it was a venture capital darling, raising hundreds of millions of dollars while private, including a $200 million round in 2019 and another $140 million in 2020.

It had a choppy early-COVID period but has since managed to announce and close a combination with a special purpose acquisition company.

Early direction of Getaround’s stock after the deal closed and it began to trade under the “GETR” ticker symbol has been sharply negative. Indeed, in the first moments of its trading under its own name, Getaround lost around 65% of its value. It now trades for around $3 per share.

#Getaround #braves #chilly #public #markets #SPAC #combination #TechCrunch


Related Posts

Marvel’s Blade Movie Delayed by Writer’s Strike

[ad_1] Marvel’s vampire hunter Blade is a fierce warrior but he may have finally met his match: labor unions. The upcoming, long-in-development reboot of the Marvel franchise…

How to Watch the Coronation of King Charles III Live

[ad_1] King Charles III officially shed his princedom when Queen Elizabeth II died, and the British royal’s new position will be formalized on May 6 in a coronation…

‘Quordle’ today: See each ‘Quordle’ answer and hints for May 6

[ad_1] If Quordle is a little too challenging today, you’ve come to the right place for hints. There aren’t just hints here, but the whole Quordle solution….

How to use a passkey instead of a password to sign into your Google account

[ad_1] Passwords have always been a necessary evil, giving you the choice of either using one that is too simple (so you can easily remember it) or…

Amazon quietly acquired audio content discovery engine Snackable AI to boost its podcast projects

[ad_1] Amazon quietly acquired New York-based audio content discovery engine Snackable AI last December to boost its podcast features, as first reported by New York Post. The…

Warhammer 40K’s New Tyranid Screamer-Killer Is a Great Update

[ad_1] A new edition of Warhammer 40K means new models—and for some of the 40-year-old wargaming franchise’s creatures and characters, that means updates they’ve not had in…

Leave a Reply

Your email address will not be published. Required fields are marked *