Digital peer-to-peer carsharing marketplace Getaround, and travel search engine and the first and only travel metasearch KAYAK, collaborated to integrate Getaround's on-demand, contactless offerings with KAYAK's platforms and services.
On May 11, 2022, Getaround agreed to go public via a special purpose acquisition company (SPAC) merger with InterPrivate II Acquisition Corp (NYSE: IPVA).
Upon closing the business combination, likely in the second half of 2022, the combined publicly traded company will be named Getaround.
What Happened? The integration enables travelers searching for cars or trucks on KAYAK to enjoy the convenience carsharing provides by booking vehicles for as little as an hour through Getaround.
The announcement coincided with years of pent-up travel demand creating robust demand for car and truck rentals in cities throughout the U.S.
Why Does It Matter? Millions of travelers can find affordable and more flexible ways to optimize their trips this holiday season by avoiding the car rental counter and even critical in-person handoffs, thanks to Getaround's contactless user experience.
Getaround is the first KAYAK carsharing partner to provide maximum booking flexibility with its hourly booking model and a fully contactless experience, thanks to proprietary Getaround Connect technology.
The Getaround-KAYAK integration is now available to travelers visiting Atlanta, Boston, Chicago, Denver, Honolulu, Los Angeles, New York City, Phoenix, San Francisco Bay Area, Tampa, Washington D.C, and many others.
"We're thrilled to partner with KAYAK to integrate our digital, instant, and contactless carsharing marketplace with the industry-leading travel platform, Getaround founder and CEO Sam Zaid said.
"We believe this will help more consumers benefit from our digital and connected user experience to book, unlock, and go — booking and unlocking cars instantly from their phone, bypassing the hassle of rental lines, salespeople, manually collecting car keys, and arranging a car pickup."
Getaround COO Sy Fahimi said. "Now more than ever, travelers are looking to save money and want convenience. With Getaround, you can instantly book cars or trucks for as little as an hour, which is ideal for short-day excursions during longer trips. Beyond that, we offer bookings by the day or week, enabling Getaround to meet the needs of all KAYAK travelers."
Privately owned cars are typically parked 95% of the time and on the move only 6 hours per week. Most cars stay parked and idle for the remaining 162 hours of the week.
Peer-to-peer carsharing means fewer cars on the road: studies show that, on average, one carsharing vehicle replaces 9 to 13 cars.
Thanks to carsharing, users are selling their vehicles or postponing the purchase of one.
"We are making KAYAK's car and truck search results even more comprehensive with the addition of Getaround," KAYAK, North America GM & VP Paul Jacobs said. "We are continuing to see strong demand for car rentals, and peer-to-peer carsharing is a great option for travelers."
Travelers coordinating their trips through KAYAK can now book a car with Getaround by selecting the "View Deal" button, automatically redirecting them to the Getaround website to complete their car booking.
Getaround cars and trucks are easily accessible, can be unlocked using only a smartphone, and are available to book on-demand 24/7 for as little as one hour. Many cities offer prices as low as $5 per hour, so travelers have various flexible vehicle options nearby.
Price Action: IPVA shares traded higher by 0.1% at $9.86 in the premarket on the last check Tuesday.
