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HyreCar to Expand to All 50 States

| November 7, 2018

Hyrecar

HyreCar Inc. (Nasdaq: HYRE), the carsharing marketplace for ridesharing, announced that it has expanded access to its proprietary platform for drivers and vehicle owners in all 50 U.S. 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 reports that it 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.

Category: General Update, News

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